EURAUD: Completed structure for the downside
EURAUD completed a Garley pattern on the weekly.
1.On 240 min structure we can see a potential Cypher pattern (pink) where its D leg ends at the trendline of a daily channel (blue line).
2.On 60 min there is a potential BAT pattern(yellow) that completes at yellow trendline.
3.On 15 min time frame there is a 5 wave move up and a 3 wave move down and a cypher pattern almost completed as a trend continuation pattern. We can use this 15 min Cypher pattern to enter long on this trade.
This is a scenario how EURAUD can develops.
1.On 240 min structure we can see a potential Cypher pattern (pink) where its D leg ends at the trendline of a daily channel (blue line).
2.On 60 min there is a potential BAT pattern(yellow) that completes at yellow trendline.
3.On 15 min time frame there is a 5 wave move up and a 3 wave move down and a cypher pattern almost completed as a trend continuation pattern. We can use this 15 min Cypher pattern to enter long on this trade.
This is a scenario how EURAUD can develops.
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Daily Gartley Pattern