BreakRetest & 618 fibolevel & BatChhJpy gives us a nice opportunity to short with a great risk reward
Breakretest
EURAUD 4HPrice broke out of its Daily downtrend line & is now retesting it above 50 fibonacci zone. Price making new higher highs & higher lows as well nice setup here just watching price action here! Euro having strong bullish momentum as well. Will be watching how this plays out !! : )
Trade with care !
USDCAD SellWaiting for the break - retest - continuation on H4 to go short.
Reason to enter:
- price broke below the monthly support lvl
- EMAs heading South
- the price broke the TL
TP - 1.2500
EURAUD LONG POSTED THE DAILY CHART OF THIS SOMETIME LAST WEEKEND.
WE HAVE SEEN A BREAK RETEST OF THE WEEKLY TREND LINE WITH A POSSIBLE WEEKLY ABCD.
HERE ON H4 WE CAN AGAIN SEE AN ABCD WITH A 50% RETRACEMENT WHICH ALIGNS WITH RESISTANCE TURNT SUPPORT AND THE WEEKLY TREND LINE.
THREE POSSIBLE TARGETS IF WE SEE PRICE ACTION TO TAKE THE LONG.
SOME GREAT RISK REWARDS.
LETS SEE IF WE CAN CONTINUE THE HH'S AND HL'S
