Potential for a long term sell on EURAUD form the previous high and Key Level 1.64. End of the 5th cycle in the Elliot wave as well as beginning of the new quarter, hence repositioning for the short possible. Lets see today if the 4PM reversal tags and falls.
Hey tradomaniacs,
welcome to another free trade-plan .
Important: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
Market-Sell: 1,64200
Stop-Loss: 1,65310
Target 1: 1,63130
Target 2: 1,62610
Target 3: 1,61990
Stop-Loss: 111 pips
Risk: 1%
Risk-Reward: 2,0
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Sorry for the cluttery chart. Lots going on.
Head and Shoulders (Messy) on daily, as well as crossing swing trendlines, with a wide zone. Good R:R, but lots of support for price to break in order for this trade to be valid.
A trade I forgot to post yesterday. You can see it on my instagram (@9to5trader). See HTF Head and Shoulders, Fibs, and institutional resistance. Perfect setup.
![EURAUD: EUR/AUD - Sell @ HNS ; TP @ HNS [SWINGERS' FAVORITE]](https://s3.tradingview.com/l/lqPCfPtP_mid.png "EUR/AUD - Sell @ HNS ; TP @ HNS [SWINGERS' FAVORITE]")
