Evening Traders,
Today’s analysis – EURAUD – trading below its local resistance where there is technical confluence,
Points to consider,
- Price Action Corrective
- Local S/R Resistance
(.618 Fibonacci and POC Confluence)
- Low Volume
EURAUD immediate price action is corrective in a downtrend, allowing for a bearish bias.
The Local S/R if of technical confluence with the .618 Fibonacci and the POC, putting emphasis on a bearish retest.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, EURAUD is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Sometimes the best trade is no trade.” – Anonymous
Today’s analysis – EURAUD – trading below its local resistance where there is technical confluence,
Points to consider,
- Price Action Corrective
- Local S/R Resistance
(.618 Fibonacci and POC Confluence)
- Low Volume
EURAUD immediate price action is corrective in a downtrend, allowing for a bearish bias.
The Local S/R if of technical confluence with the .618 Fibonacci and the POC, putting emphasis on a bearish retest.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, EURAUD is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Sometimes the best trade is no trade.” – Anonymous
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.