EURAUD macro cycle finished and holding price in large quarter
Price has found resistance in a large quarter point and psychological number of 1.625000. As we can see as well, this correlates with a large macro cycle being finished and made a large M formation between last week and this week. Im looking to enter this coming days as midweek reversal and hold for a long term cycle down for a good 500 pips potentially.
Confirmations:
- divergence on TDI on 4h with first leg above band and second band below liquid 50
- macro cycle has finished and holding current price
- price has finished quarter cycle and held position on 1.62500 and has never past it or made a new high
- price made a new higher low but struggles to make a new higher high and consolidates below the high
- AUD pairs seem to be having a bit of consolidation across the board.
Confirmations:
- divergence on TDI on 4h with first leg above band and second band below liquid 50
- macro cycle has finished and holding current price
- price has finished quarter cycle and held position on 1.62500 and has never past it or made a new high
- price made a new higher low but struggles to make a new higher high and consolidates below the high
- AUD pairs seem to be having a bit of consolidation across the board.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.