i dont like the idea because i dont think it will go all the way to your "take profit" maybe only half way
rjabmc
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@Alvin335, thanks for ur opinion, please share your analysis on EURAUD in full so i can understand what you mean :)
Alvin335
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Price is at daily moving avarage ( period; 55 ), and i think the moving avarage ( 55 ) might act as a support in this case. if you use the moving avarege ( 55 ) on the daily timeframe then you see what i mean.
rjabmc
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@Alvin335, thank you for the info.. also if you look at price action on the daily the last candle is in favour of price moving down
Alvin335
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@rjabmc, yeah agree, so down to about structure low at about 1.6315, but not all the way to your "take profit".