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Monday, April 19, 2021

EURAUD (1 HOUR): 2nd Retest sell setup

EURAUD (1 HOUR): 2nd Retest sell setup

EUR/AUD OANDA:EURAUD

Hello fellow traders, here's my view on EURAUD for the week, enjoy.

Reward: 246 pipsπŸ€‘
Risk: 30 pips❌
Risk/Reward Ratio: 7.36✅

Chart Breakdown: πŸ“‰πŸ“ˆ

  • Daily: Price is currently in a downtrend. There are two fakeout's on the daily upward trendline indicating momentum to the downside. We are therefore bearish on the daily chart .
  • 4 Hour: We have a downtrend in place on this timeframe, therefore we are bearish on this timeframe.
  • 1 Hour: We have a second retest of a upward trendline indicating a sell setup. We have a shooting star reversal candlestick pattern to confirm sell entry.

Please like and comment if you agree with the idea.πŸ‘
Please follow DR .Swing_Forex for more quality ideas.

DR .Swing_Forex

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