Short the EURAUD - the dropping stone pattern (My own theory)

Aug 5, 2017

EURAUD

First - look at the structure we have been having on the daily chart



The down-trend is on the weekly, the daily and the 4 hour chart!

There is a confluence between left structure highs and the 1.618 fib!

I will seek reversal candle to entry at the retest of 50% or 61% with stops as high as 80%

Will see if the gap wont ruin this trade though :P