Yesterday I posted about a EURAUD looking for a long entry around the 1.4350 area, but price already went up like a rocket. The EURAUD finally broke the steep bearish trendline. I am now waiting for price to retrace back to the most recent structure or the trendline. Stop goes below the lows at 1.45 area.
I wouldn't be surprised if the retracement doesn't go all the way down to my entry point, but in order to keep a good risk:reward ratio we have to wait. I will be updating this as time progresses. Best of luck!
Comment
⋅
Moving entry to 1.4350. Stop at 1.4250. Targets will be given later.
Moving entry to 1.4350.
Stop at 1.4250.
Targets will be given later.
liyeah
⋅
is this still valid?
11021992
⋅
Excellent question. The entry at the retracement is still a good idea, but there is a slight problem with the current setup. I was going to update it during the weekend. Let me illustrate what the problem is.
This new setup lines up with the other entry that I had on the EURCAD. If you want to take this trade, I suggest using the chart below.
Stop at 1.4250.
Targets will be given later.