Upon reviewing the 4-hour timeframe and the formation of the ABCD pattern, we anticipate that after breaking the downtrend line, the price will move towards the supply zone of 1.6677.
2 sell trades as you can see, if second was achieved before first entry is still possible!
ATTENTION : forex trading is professionally studied and it's not based on luck, any attempts to enter any trade requires patience, studying, and relaxation so u don't stress out
Daily - looks short. tight range all last week. still is in tight range here right now. **1.66081** was a key level last week. price could not sustain above it all of last week. so if we are to continue in trend, I will need price to hold above **1.66081** first.
Origin - Here price has already tagged S1. but even if I think price is going up, I cannot enter...
After re-assessment, price has hit significant level and potentially could be a reversal to the downside. Possibly start of a bearish trend. Waiting for price to hit zone before initiating sells for lower prices.
Safe and happy trades.
Trying out a new strategy, simplyfying SMC and going with a fibonacci based strategy, I might not take this trade; it is hypothetical, depends on the reaction from the given area, If there is no rejection of the area, I will instead wait for the rejection of the top side of this area :)
1. **Support and Demand Zone**: EUR/AUD is currently within a buying zone, specifically situated in a support and demand area spanning from 1.65560 to 1.65680. This suggests a region where buyers are likely to enter the market, indicating a favorable area for initiating long positions.
2. **Trader Sentiments**: The sentiment among traders for EUR/AUD reveals...
EURAUD is trading in the descending channel. It is creating AB=CD pattern.
The market consolidated for a while, and it broke and closed below it.
Price action is printing HLs and LLs and is likely to go down.
We expect a bearish move to retest the support level.
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Share your opinion in the comments and support the idea with like. Thanks for...
This pair was strugling to break below that trendline in last 30days.
Now its making head and shoulder pattern.
Break below trendline is clear downtrend.
What do you think abt this pair traders?
EURAUD Long Term Technical Analysis
Timeframe: Weekly
Bullish channel breakout happened and a fibo 61.8% retracement completed with candle confirmation.
Hello traders,
EURAUD has been moving sideways for a period. Expecting this sideways movement to finish at 0.786 - 0.88 Fibonacci levels.
SHORT Entry
- Watch the rejection of the sell zone.
- Look for a reversal pattern in that area.
- Stoploss: above the highs
- Target: 1.63592 ( -0.27 fib )
Goodluck and trade safe!
EURAUD's downward trend has been broken and it is now preparing to rise to the highest level, although it is important to note that this is only a corrective trend. Good luck!
EURAUD rebounded strongly from the area around 1.66120. It has been confirmed that it will continue its downward trend and any correction is expected to be short-lived. Therefore, a sell deal is recommended. Good luck.
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
This Weekly FORECAST
Opportunity for EURAUD. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
