On a weekly TF, chart is showing divergence but on the Daily and H4, EURAUD still has momentum up its sleeve.
Looking for a pullback down to 1.272 area to enter a trade with a target going to 2 extension that is also in confluence to the bigger 2.618 of the Daily.
I set an alarm when price is breaking the counter trendline.
Looking for a pullback down to 1.272 area to enter a trade with a target going to 2 extension that is also in confluence to the bigger 2.618 of the Daily.
I set an alarm when price is breaking the counter trendline.
Note
Counter-trendline triggered hours ago. We'll see if price breaks the 1.605 price area and close below it, invalidating our idea. Otherwise, market will continue to be bullish.Note
The chart from the comment above.Note
This idea was invalidated after breaking our .236 area below.Please see new updated chart for this pair:
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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.