EURAUD Sell Idea
W1 - Triple cycle up, price has reached the magnet zone, bearish divergence. We can go short with the breakout of the uptrend line. We may expect the price to move lower until it reaches the 38.2 fibo extension of the entire W1 triple cycle.
D1 - Bearish divergence forming.
H4 - Double cycle up, continuing bearish divergence. The 161.8 fibo extension of the first leg coincides with the weekly magnet zone. We may now expect the price to move higher until it reaches this area and a bearish reversal to happen from there.
If you want to be aggressive you can go short with the breakout of the uptrend line. If you want to be conservative then wait for the price to break below the W1 uptrend line then you can join the sells.
D1 - Bearish divergence forming.
H4 - Double cycle up, continuing bearish divergence. The 161.8 fibo extension of the first leg coincides with the weekly magnet zone. We may now expect the price to move higher until it reaches this area and a bearish reversal to happen from there.
If you want to be aggressive you can go short with the breakout of the uptrend line. If you want to be conservative then wait for the price to break below the W1 uptrend line then you can join the sells.
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