Trade Idea Overview: Looking at EURAUD, we have a promising sell setup with multiple confluence factors backing the trade. Here's the breakdown:
🔹 Harmonic Pattern:
A clear bearish harmonic pattern is forming on the chart. The pattern suggests a reversal near the 1.6740 level, offering an ideal entry for a sell position.
🔹 Fair Value Gap (FVG):
We see a Fair Value Gap (FVG) around the 1.6740 region, indicating an imbalance in price action. This suggests that the price could retrace back to fill the gap, further reinforcing our sell position.
🔹 Prime Target Levels Indicator:
Our Prime Target Levels indicator has also provided a key support zone around 1.6670, which will be our target for this trade. This level has historically acted as a significant turning point, adding more confidence to the idea.
Trade Setup:
Sell Entry: 1.6740
Target: 1.6670
Stop Loss: Above 1.6770 (risk management)
This setup combines technical elements and price action analysis, giving us a high-probability trade with a favorable risk-to-reward ratio.
Stay tuned for updates, and always trade wisely! 🚀
🔹 Harmonic Pattern:
A clear bearish harmonic pattern is forming on the chart. The pattern suggests a reversal near the 1.6740 level, offering an ideal entry for a sell position.
🔹 Fair Value Gap (FVG):
We see a Fair Value Gap (FVG) around the 1.6740 region, indicating an imbalance in price action. This suggests that the price could retrace back to fill the gap, further reinforcing our sell position.
🔹 Prime Target Levels Indicator:
Our Prime Target Levels indicator has also provided a key support zone around 1.6670, which will be our target for this trade. This level has historically acted as a significant turning point, adding more confidence to the idea.
Trade Setup:
Sell Entry: 1.6740
Target: 1.6670
Stop Loss: Above 1.6770 (risk management)
This setup combines technical elements and price action analysis, giving us a high-probability trade with a favorable risk-to-reward ratio.
Stay tuned for updates, and always trade wisely! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.