EURAUD – A tale of two possibilities

During the last Best Practice class, we discussed EURAUD as it offers interesting opportunities to those who are prepared.


Taking a look at EURAUD on the Big Picture in the D1 chart.

Big picture look at EURAUD

Big picture look at EURAUD

  • Price maintains a strong upward bias with no signs of bearishness.
  • Current week (Wk2) price is supported with previous week (Wk1) expanding above a period of consolidation.


Moving into the H4 timeframe

Two possibilities seen in EURAUD in H4 chart

Two possibilities seen in EURAUD in H4 chart

  • Trend in H4 is still up with no signs of change.
  • Current price is at resistance of 2 weeks low
  • Two possibilities can enfold
    1. Price closes above resistance zone and completes the criteria of a WTT WRMB.  (WTT = With the Trend)
    2. Price rejects the resistance and validates the down CTT 1234 pattern clearly seen. (CTT = Counter the Trend)

*With regards to the WRMB, in this case, it is preferable to wait for a H1 box or D1 close above the level to be certain.


Some may ask which option should I choose? Answer is simple, you can always choose both! Don’t guess and let the market tell you the direction, but with a trade strategy ready for either moves will help to ensure you come out standing on top.



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