EURAUD H4 - Bearish ABCD with Equal Length Moves

We have a nearly perfect bearish ABCD pattern reaching its D completion on EUDAUD H4 chart with a nearly overbought RSI. This pattern is also matched by an equal bullish moves of AB and CD. As for potential targets, we have a missed weekly pivot seating right at the 50% CD retracement that looks attainable, and could trigger a trade continuation opportunity. Follow your entry rules if this potential trade is in your trading plan.

As always, I welcome your comments and views on my ideas. No comment is wrong, ultimately, we all learn from different points of views.

-Paul

Kommentera:

The Australian news on business activity and confidence is working well for AUD. The European open should be interesting for this pair.

Kommentera:

Pattern became invalid - No trade taken.

Looking for the next opportunity.