EURAUD warrants your attention guys.
I have mapped out a daily TF channel which started from July 2017 and we are getting close to the bottom extreme of the channel.
This is likely to be a support zone watched by many traders for them to get long.
This level is also supported by a Gartley pattern which will complete nicely at the low of the channel.
This gartley is a legitimate one as it has all 3 elements of what makes a gartley harmonic.
1. XA 78.6
2. BC 1.13 - 1.618
3. AB=CD move
Therefore, I expect price to react around 1.5750 - 1.5760.
At this level, a volume increase is desired and I will only enter after the close of a green candle after testing this level.
SL will go 20 pips below X (1.5607).
TP1 will be AD 38.2 (1.5921) and TP2 will be AD 61.8 (1.6020).
Please manage your risk well and keep it below 2% per trade.
I have mapped out a daily TF channel which started from July 2017 and we are getting close to the bottom extreme of the channel.
This is likely to be a support zone watched by many traders for them to get long.
This level is also supported by a Gartley pattern which will complete nicely at the low of the channel.
This gartley is a legitimate one as it has all 3 elements of what makes a gartley harmonic.
1. XA 78.6
2. BC 1.13 - 1.618
3. AB=CD move
Therefore, I expect price to react around 1.5750 - 1.5760.
At this level, a volume increase is desired and I will only enter after the close of a green candle after testing this level.
SL will go 20 pips below X (1.5607).
TP1 will be AD 38.2 (1.5921) and TP2 will be AD 61.8 (1.6020).
Please manage your risk well and keep it below 2% per trade.
Note
EURAUD has reached the PRZ.Right now we have to be patient.
Only decide whether to enter after a green candle forms in H4.
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.
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.