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EURAUD: Potential Short Opportunity (Trading Plan)



🔻EURAUD is ranging for a long time on a daily chart .

this week the price reached an upper boundary of that range.

based on that the pair started to coil and formed a descending triangle formation with a sequence of lower highs.

It is a classic reversal pattern and I am waiting for a bearish breakout of its horizontal support to short (4h candle close below).

goals:

1.6416

1.6370

in case of a new higher high formation on hourly, the setup will be invalid

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