EURAUD UPDATE

EA is in a strong daily downtrend printing consecutive LH LL formations, recently price has provided us with a correction to form a new swing high. Price tested the descending daily trendline in confluence with the 0.618 fibonacci and has shown multiple rejections.

Dropping down to the LTF we can identify price has broke the distribution range with a intraday impulse to the downside printing a new LL, now the LTF is aligning with the daily TF i will be monitoring PA inside of the identified zone on the LTF for potential entry confirmations to short ✅