The price move into rectangle channel and near to resistance zone
of this formation in addition the price almost to complete AB=CD
so the pair looks bearish . short levels , targets and stop lose are
clear on chart >
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action...
I opened sell order on EURAUD on 1.5930 because i see head and shoulders pattern and 2 levels (blue squares) and 2 breakouts of this levels.
TP - 1.5745 SL - 1.6005 RRR - 2.46.
Sl near 74 pips so use lower trading volume. Good profit for all us!
A beginning downtrend started a few days ago, price broke through and bigger timeframe key level (red line), we see the first retest of the line. The idea is to get a second retest to the line and then break through the countertrend. Target would be the next key level 1.4111.
I will update this idea when price moves