EURAUD: Top of the main Structure, Looking for a REVERSAL!
Updated
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the EURAUD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Higher timeframe:
Lower timeframe:
After the strong bearish impulse happened about 9 months ago, the market has been consolidating in a big expanding structure, which is clearly visible connecting the two swings high and low in higher timeframe.
Currently the price broke the resistance level at about 1.5400, still correcting above it, but with a nice possibility to see a market reverse.
When, where and why would we step into the market?
Usually, one of the most important aspect during a breakout of a level, resistance or swing, is the way it broke and the further price action above/below that specific level.
Considering the overall bearish bias and enough lower timeframe confluences in line with bearish perspective, we would be happy to take a short position on the further correction forming right now!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Higher timeframe:
Lower timeframe:
After the strong bearish impulse happened about 9 months ago, the market has been consolidating in a big expanding structure, which is clearly visible connecting the two swings high and low in higher timeframe.
Currently the price broke the resistance level at about 1.5400, still correcting above it, but with a nice possibility to see a market reverse.
When, where and why would we step into the market?
Usually, one of the most important aspect during a breakout of a level, resistance or swing, is the way it broke and the further price action above/below that specific level.
Considering the overall bearish bias and enough lower timeframe confluences in line with bearish perspective, we would be happy to take a short position on the further correction forming right now!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Note
The market looks is breaking the little LTF pattern formed on the top of the main structure.
If the Breakout is confirmed by further bearish price action, we could see a nice bearish reversal.
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