EURAUD: Major Trend Line Trade

hey traders,

EURAUD is approaching a major falling trend line.
on 4H the price has already formed two rejection and one dodji candles signifying a strong bearish pressure on the underlined structure.

also, we have a perfect cross between a horizontal resistance of a current wide 4h range and above-mentioned trend line,
and it increased the chances that the structure will be respected this time.

for confirmation, I would look for a bearish breakout of a narrow horizontal range on 1H.
1.6367 is its support. let the market break and close below that and then sell aggressively or on retest expecting a bearish continuation.

T1 - 1.6325
T2 - 1.629

safe stop will be above the last lower high within the range


remember that in case of a bullish violation of a range on 1H, it will confirm the breakout of a major trend line and our bias will shift to bearish.
this scenario is also possible so be prepared.