ForceFollower
Short

Up trend slowing down

FX:EURAUD   Euro Fx/Australian Dollar
130 2 1
Euro             has weakened a bit today, so a bet for a small correction seems to be warranted. Even if it is against the recent weakling - the Aussie. I believe, the pair can't go much higher now - needs to take out those longs that have their stops below the recent low, in order to get the fuel for the next rally.
motleifaul
3 years ago
Dzien dobry, Piotr! It's an interesting idea. I was short on this yesterday but stopped out overnight. Perhaps it looks really bullish now.
I'm full up with positions at moment. So I won`t follow, perhaps I'll join later.
What I wonder is: How did you define you minor support? I can't see a classic support level there.
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ForceFollower motleifaul
3 years ago
Dzien dobry. You speak Polish. Ich spreche auch Deutsch, as I suppose you are, but TradingView is supposed to be used in English. :-) Exactly the same thing happened to me. I was stopped out too. And actually it's not my favorite kind of trades. You're right to give up on this one - let the sellers show some strength first:-) The minor support? Yes, it's not classic, you won't find it in any books. It's my invention - I call it the "palate": for support it is the highs of the bars that form the bottom of the swing. For resistance - the other way round. It's just a product of 20 000+ trades I made during the last 5-6 years (including paper trades).
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