EUR/AUD - Bullish AB=CD MM

Excellent swing trading opportunity just formed on EUR/AUD.

Trading Pair: EUR/CAD
Time Frame: 4 Hour Chart
Formation: Bullish AB=CD MM

Price has fully tested the potential reversal zone, I'm currently waiting on the next candle close before entering which looks like it'll be a hammer or doji.

I'll be closely monitoring the progress of price and RSI.

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Apologies I made a mistake typing the trading pair, it should be EUR/AUD.

Trade active

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Update on the 1h chart.

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I've noticed another error in my post, the title should read "EUR/AUD - Bullish AB=CD RSI MM". I've come to the end of an 80-hour water fast, probably for the best as I'm mistyping everything lol!

Anyway, I do have an update for you all... Zooming in on the PRZ to see what's happening on the intraday timeframes.

This is worth paying attention to if support breaks as we may see a re-test of 1.61250.

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Update on the 15m chart.

Looking for a break to the upside.

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Movement to the upside, close above resistance.

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TP 1 achieved, move your stop loss to break even and continue to monitor position.

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To those holding, I would close out the majority of your position if not already... We may go short based on a smaller bearish bat, pay attention to this structure.

Trade closed: target reached

LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

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LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

Also on: