Sell Setup: Daily Resistance, Supply Zone, and Bearish Harmonic
Hello traders
The EURAUD has been trading near a strong daily resistance level, which has been previously respected as a supply zone. Additionally, we can see a bearish harmonic Bat pattern forming on the chart, adding further confluence to the sell setup.
To trade this setup, we will wait for a bearish confirmation such as a bearish engulfing pattern or a double top on the lower time frame. Once we have a confirmation, we can look for a sell entry with a stop loss above the daily resistance level.
It's essential to practice proper risk management techniques and avoid overleveraging when trading.
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The EURAUD has been trading near a strong daily resistance level, which has been previously respected as a supply zone. Additionally, we can see a bearish harmonic Bat pattern forming on the chart, adding further confluence to the sell setup.
To trade this setup, we will wait for a bearish confirmation such as a bearish engulfing pattern or a double top on the lower time frame. Once we have a confirmation, we can look for a sell entry with a stop loss above the daily resistance level.
It's essential to practice proper risk management techniques and avoid overleveraging when trading.
Follow me for more trading insights and analysis. Like, comment, and share if you found this helpful!
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