Bounce expected

FX:EURAUD   Euro / Australian Dollar
102 11 3
Targets 1.50, 1.52
Anyway, it doesn't matter who turns out to be right or wrong on a particular trade posted here. One trade doesn't matter - what matters is the strategy and its long-term performance. I consider every post on tradingview as a sample of someone's trading strategy. And every sample, even coming from the best-in-the-world strategy, contains some losers next to the winners. So, if your posted trade idea ends up with a profit - you're happy, but if with a loss - it doesn't necessarily mean that your strategy sucks, but that it just happened to be one of those losing trades, nothing more.
Like2Move ForceFollower
Yes, of course.
my setup here
Yeah, right. This pair still looks thunderstruck. :-) And I don't think we're past the stormy weather, yet. There'll be new lightnings coming from above. :-)
itaskar ForceFollower
Haha, yes, I think that high voltage barrier will stops those wild bulls for a while :)
My navigation instruments are saying the high voltage barrier is at roughly 1.4757. If it fails, the next one is at 1.48. Above it there's nothing special until 1.494-1.495 that's where an even stronger resistance lies in wait.
Like2Move ForceFollower
I agree on 1.48.
Why are you bullish about this pair? The loss of efficiency? The recent higher low?
Like2Move ForceFollower
Reasons: 0A=BC, RSI oversold (D), RSI convergence (H4), 0.62 from last high, resistance zone (yellow trendline). Recent BC move contains 5 waves.
ForceFollower Like2Move
I guess you probably meant "RSI divergence" (although you're right, they look as if they were converging on a chart)? :-) However, I find this chart much better for a bullish setup. Now I see your point. Sure, you can be bullish based on that, although you're trading rather on the D1 chart than an H4. I was asking you, only because on H4 the trend is still down and I use the rallies only to enter short in this kind of market conditions. This pair still hasn't reached your yellow dotted trend line, which, I expect, it might do sooner or later.
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