EURAUD, H4 - sell - support breaks + possible head and shoulders
Reason to trade: Price failed to make new high and formed lower high which seems to be right shoulder or head and shoulders formation. Also last support broke and currently is testing as a resistance. If it succeed the range of formation should be filled.
Stop Loss: Setup will be active until current resistance stops the price (~1.54956)
Take Profit: Possible take profit area is last support from daily chart (~1.52217), however we may see some price reaction around 1.53878 which may be considered as TP1
Stop Loss: Setup will be active until current resistance stops the price (~1.54956)
Take Profit: Possible take profit area is last support from daily chart (~1.52217), however we may see some price reaction around 1.53878 which may be considered as TP1
Note
TP1 reached
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