EURAUD Short
Updated
EA has been in a continous downtrend with no signs of stopping, besides the newly formed support at 1.57200. I suppose if it makes a lower low and breaks it, we can continue riding it down.
Confluence: rejection of the 61.8% fibo level with a big engulfing candle, which also corresponded with the 1.5900 psychological level; downtrend's impulses are getting steeper;
We could have an entry right here, at the rejection the 23% fibo level, but it's too risky.
Confluence: rejection of the 61.8% fibo level with a big engulfing candle, which also corresponded with the 1.5900 psychological level; downtrend's impulses are getting steeper;
We could have an entry right here, at the rejection the 23% fibo level, but it's too risky.
Order cancelled
Price has made a higher high, so this setup is no longer valid.
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.