Level 3 'M' Formation on EUR/AUD
Level 1 - Strong Bullish move from the Market Makers after a 'W' reversal on the Daily Low (Support)
Level 2 - Frequent Market consolidation and then a weaker bullish move by emotional traders without Market Maker support
Level 3 - Less Consolidation and potential 'M' or Double Top formation. First peak has reached Weekly/Daily High (resistance)
Note: High impact news on AUD on 13/03/18 so according to these levels, I expect a strong bullish move to reach the 2nd peak during the week before the M reversal
Entry Price, TP and SL have been given.
Level 2 - Frequent Market consolidation and then a weaker bullish move by emotional traders without Market Maker support
Level 3 - Less Consolidation and potential 'M' or Double Top formation. First peak has reached Weekly/Daily High (resistance)
Note: High impact news on AUD on 13/03/18 so according to these levels, I expect a strong bullish move to reach the 2nd peak during the week before the M reversal
Entry Price, TP and SL have been given.
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