EURAUD Entry On A Retest - Wedge Pattern
EURAUD price broke diagonal wedge support. Diagonal support line now becomes diagonal resistance because price broke and closed below the diagonal level.
WAIT FOR THE RETEST OF THE DIAGONAL LEVEL.
Enter on the retest at level 1.63084 with a market execution order or sell limit order. Exit at the next horizontal support resistance line for Take Profit. Exit at 1.61072.
Note: There is confluence when diagonal support resistance line intersects with horizontal support resistance line. A higher probability trade set up for the wedge pattern in using "intersections."
WAIT FOR THE RETEST OF THE DIAGONAL LEVEL.
Enter on the retest at level 1.63084 with a market execution order or sell limit order. Exit at the next horizontal support resistance line for Take Profit. Exit at 1.61072.
Note: There is confluence when diagonal support resistance line intersects with horizontal support resistance line. A higher probability trade set up for the wedge pattern in using "intersections."
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