An obvious bearish triangle is forming on the EURAUD 4H Chart.
Price is likely to move within the triangle and attempt to break out of it in a downtrend before being rejected by the first key support.
Price may then bounce back up and hit the triangle's resistance before going bearish once again.
I'll probably take a short position in a smaller timeframe when I get confirmation of a bearish trend.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
Price is likely to move within the triangle and attempt to break out of it in a downtrend before being rejected by the first key support.
Price may then bounce back up and hit the triangle's resistance before going bearish once again.
I'll probably take a short position in a smaller timeframe when I get confirmation of a bearish trend.
Thank you for reading and happy trading!
Disclaimer:
I am not a professional trader, financial/investment advisor, broker and/or dealer. The idea above is strictly based on my opinion and should only be used for entertainment/educational purposes only. Do conduct your own due diligence and do not act solely based on any information conveyed in this Trade Idea.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.