Short EURAUD
Updated
As the major resistance (indicated as the dark green line) did not broke, a short opportunity has occurred.
scenario 1: The short goes till support level of 1.58436 (second yellow line) and forms a double top and breaks to the next support line which is either the white dotted line or the red line.
scenario 2: it follows the first scenario, but will have a bounce on the support level to the resistance line (first yellow line)
scenario 3: it could go back to the resistance line, which could either break (long opportunity) or reject and form a descending triangle.
sl for this short is above the 1.59 level.
****never trade more than you can afford to lose****
*****These are ideas not calls ! *****
scenario 1: The short goes till support level of 1.58436 (second yellow line) and forms a double top and breaks to the next support line which is either the white dotted line or the red line.
scenario 2: it follows the first scenario, but will have a bounce on the support level to the resistance line (first yellow line)
scenario 3: it could go back to the resistance line, which could either break (long opportunity) or reject and form a descending triangle.
sl for this short is above the 1.59 level.
****never trade more than you can afford to lose****
*****These are ideas not calls ! *****
Trade active
Trade closed: stop reached
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