Look here potential +100 pip trade
Updated
Current situation
We have a few confluence factors for a move to the downside. Right now this pair is in a very interesting situation. We can see an inverted head and shoulders formation (It is also called a "W" formation). After this formation, it is normal to see a push to the downside especially when we are at a structural level.
COT reports
On AUD we can clearly see a decrease in short position (10809 shorts were closed) while the EUR was getting stronger. On the other hand, we have the EUR and it was getting pretty strong. While the EUR was getting stronger the hedge funds added another 13239 shorts (To EUR) which can be another indication for a push to the downside.
Bearish divergence on the weekly
We all know that divergence is not something you should use by itself. You always have to combine it with other things which I am doing here. In my opinion, divergence works very well on the 240 min, daily and weekly timeframes. The point: We can spot bearish divergence on the weekly which is another sign for a push to the downside.
!Trading on your own risk. I am not giving financial advice I am only showing the way that I am trading!
We have a few confluence factors for a move to the downside. Right now this pair is in a very interesting situation. We can see an inverted head and shoulders formation (It is also called a "W" formation). After this formation, it is normal to see a push to the downside especially when we are at a structural level.
COT reports
On AUD we can clearly see a decrease in short position (10809 shorts were closed) while the EUR was getting stronger. On the other hand, we have the EUR and it was getting pretty strong. While the EUR was getting stronger the hedge funds added another 13239 shorts (To EUR) which can be another indication for a push to the downside.
Bearish divergence on the weekly
We all know that divergence is not something you should use by itself. You always have to combine it with other things which I am doing here. In my opinion, divergence works very well on the 240 min, daily and weekly timeframes. The point: We can spot bearish divergence on the weekly which is another sign for a push to the downside.
!Trading on your own risk. I am not giving financial advice I am only showing the way that I am trading!
Note
I will write the entry here. I am not giving financial advice I am ONLY helping people. I will write the entry here
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.