This sell could print really nice, price is right now trying breakout to the upside. If it fails to break, we could see it retracing back to around 18.15! My trendline was made with the first two tops that price made, giving the idea that price already tried and failed creating a fake breakout early this month.
Will wait for today's candle closure. If below...
So, we have a breakout of the red trendline with a rising wedge that is filled right at resistance level. already in a small sell position from 1.2315 and aiming to close it at around 1.2180. Stoploss very tight. Might add more positions if breakout to the downside of this wedge confirmed.
New year and i'm back in forex for some long-term trades.
As it shows on the chart, this is my plan for EURAUD pair, looking for a full breakout above the green trendline that started on oct'20 and made, not very long ago, a double-bottom formation. Will wait for the retest and try to enter around 1.5700 ! This analysis will not be valid if price cant go and stay...
