Trade Plan (Live): I sold EUR/AUD at 1.6604
EUR Basket - the basket has reached the resistance zone of 595-596. I am looking for a reaction to the downside.
AUD Basket - the intraday chart offers a bullish bias. I am looking for a move higher within the CD leg of a Gartley formation.
Correlation studies suggest a sustained move to the downside in EUR/AUD.
EUR/AUD - the daily chart highlights the cross moving higher within the BC leg of a Bat formation. This pattern will be completed at 1.4610 (TP2)
The 8-hour chart highlights a possible Gartley formation at 1.6262 (TP2). I am looking for a move to the downside in the CD leg.
The one-hour chart highlights a complex corrective formation within an ending wedge formation. A break of the trend of higher lows at 1.6492 will confirm the bearish momentum.
I sold EUR/AUD at 1.6604
SL: 1.6265
TP1: 1.6686
TP2: 1.4615
Risk/Reward Ratio of 4.13R
#tradeplan #EUR/AUD
AUD Basket - the intraday chart offers a bullish bias. I am looking for a move higher within the CD leg of a Gartley formation.
Correlation studies suggest a sustained move to the downside in EUR/AUD.
EUR/AUD - the daily chart highlights the cross moving higher within the BC leg of a Bat formation. This pattern will be completed at 1.4610 (TP2)
The 8-hour chart highlights a possible Gartley formation at 1.6262 (TP2). I am looking for a move to the downside in the CD leg.
The one-hour chart highlights a complex corrective formation within an ending wedge formation. A break of the trend of higher lows at 1.6492 will confirm the bearish momentum.
I sold EUR/AUD at 1.6604
SL: 1.6265
TP1: 1.6686
TP2: 1.4615
Risk/Reward Ratio of 4.13R
#tradeplan #EUR/AUD