This is my analysis and predictions in regards to the future of EUR AUD.
Based on the daily charts.
Obviously this is a long term trade and may take a while to form. But you can see a clear double top rejection on the top trend line on numerous occasions.
I will be waiting for the top trend line to be touched, a retracement then a return to the trend line before entering a long term SHORT all the way down.
This is also backed up from the simple but effective M formation trading style. Always wait for the second leg to trade down on.
Let me know what you think, I think there's definitely a large amount of scope if this pattern is to form again.
Apologies the SL/ TP chart is in the wrong position (should be higher up) , but you get the idea.
Based on the daily charts.
Obviously this is a long term trade and may take a while to form. But you can see a clear double top rejection on the top trend line on numerous occasions.
I will be waiting for the top trend line to be touched, a retracement then a return to the trend line before entering a long term SHORT all the way down.
This is also backed up from the simple but effective M formation trading style. Always wait for the second leg to trade down on.
Let me know what you think, I think there's definitely a large amount of scope if this pattern is to form again.
Apologies the SL/ TP chart is in the wrong position (should be higher up) , but you get the idea.