Short EURAUD

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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 ! *****

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Beyond Technical AnalysisChart PatternsEURAUDeuraudshortTrend Analysis

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