EURAUD - Bullish Gartley Completion
EURAUD warrants your attention guys.
I have mapped out a daily TF channel which started from July 2017 and we are getting close to the bottom extreme of the channel.
This is likely to be a support zone watched by many traders for them to get long.
This level is also supported by a Gartley pattern which will complete nicely at the low of the channel.
This gartley is a legitimate one as it has all 3 elements of what makes a gartley harmonic.
1. XA 78.6
2. BC 1.13 - 1.618
3. AB=CD move
Therefore, I expect price to react around 1.5750 - 1.5760.
At this level, a volume increase is desired and I will only enter after the close of a green candle after testing this level.
SL will go 20 pips below X (1.5607).
TP1 will be AD 38.2 (1.5921) and TP2 will be AD 61.8 (1.6020).
Please manage your risk well and keep it below 2% per trade.
I have mapped out a daily TF channel which started from July 2017 and we are getting close to the bottom extreme of the channel.
This is likely to be a support zone watched by many traders for them to get long.
This level is also supported by a Gartley pattern which will complete nicely at the low of the channel.
This gartley is a legitimate one as it has all 3 elements of what makes a gartley harmonic.
1. XA 78.6
2. BC 1.13 - 1.618
3. AB=CD move
Therefore, I expect price to react around 1.5750 - 1.5760.
At this level, a volume increase is desired and I will only enter after the close of a green candle after testing this level.
SL will go 20 pips below X (1.5607).
TP1 will be AD 38.2 (1.5921) and TP2 will be AD 61.8 (1.6020).
Please manage your risk well and keep it below 2% per trade.
Right now we have to be patient.
Only decide whether to enter after a green candle forms in H4.