EURAUD 4 HR: Pattern Entry for Trend Continuation
I'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure.
Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of a 78.6 & 50% Fibonacci retracements from previous structure highs.
Just for a little added confidence this potential butterfly would complete a the 1.44000 which is a psychological round number.
If you didn't see it already (shame on you, lol) I broke down this trade in my most recent Weekend Review video on YouTube. youtube.com/watch?v=mhkg_pCkA6Y&list=UUVveEks3MWZqOsvzTF_LGQg
Today's my off day, but I wish you guys a great week of trading!
Akil
Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of a 78.6 & 50% Fibonacci retracements from previous structure highs.
Just for a little added confidence this potential butterfly would complete a the 1.44000 which is a psychological round number.
If you didn't see it already (shame on you, lol) I broke down this trade in my most recent Weekend Review video on YouTube. youtube.com/watch?v=mhkg_pCkA6Y&list=UUVveEks3MWZqOsvzTF_LGQg
Today's my off day, but I wish you guys a great week of trading!
Akil
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