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2618 Trade

EURAUD (1 Hour) - Pullback Trading OpportunityLast week we took a look at the EURAUD (see related ideas below) & had a bearish structure trade on the radar. If you haven't seen that post make sure you take a look at it as this idea is a follow up on that one. Although price has currently moved off of previous structure highs, it's done so in a way that has created new minor levels of structure as well. No need to be alarmed as normal & healthy market movements consist of an ebb and flow type of pattern & not just a large direction move. During this ebb & flow price has created new minor levels of structure that can be used as opportunities to hop on smaller extensions & that's what we're looking for here. After spending the 1st half of the NY session retreating higher, we have now come to retest a previous level of structure & a hold of this level will offer a nice opportunity to involve yourself in a potential move lower while maintaining an excellent risk to reward profile. It's going to be an interesting week in the markets with all of the FOMC members speaking and the first US Presidential debate tonight. I wish I can tell you what to expect but I honestly have no clue. If you have any guesses or insights please let me know in the comment box below as I'd love to hear. Your Trading Coach Akil
Short
by Akil_Stokes
12
Trade Ideas Analysis: AUDUSD Double TopA check back on the retracement of the double top setup gave an opportunity to engage the trade. At the blue trendline, it will be level I'm observing if a break below and close below the trendline is going to happen, for that I'll leave it to the alert set on trading view. If you do not have an account with a trading view yet, clear your cache, set up a new tradingview account by clicking this link so you will get 30usd worth of coin when you decided to go Pro. www.tradingview.com This might be the trade of the year. Trade has engaged.
Short
by RaynLim
2
(1h) The eventual bullish 2618 & shark patternOANDA:USDCAD One technical double bottom reinforced by the most recent daily fractal support printed at 1.38682, one broken neck at 1.39608 and the most recent 4h fractal resistance printed at 1.40488 right above the default target for the double bottom projected at 200%, and a couple of points above the golden 61.8% fib retracement level. The bullish 2618 requires a retracement back to the 61.8% fib, projected at 1.39373. The pattern will converge with one bullish shark completion point ( 224% fib extension ) and will suggest the reinforcement of one ascending trendline supporting the most recent daily and 4h fractals.
by Andre_Cardoso
3