Up trend slowing down

FX:EURAUD   Euro / 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.
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.
ForceFollower motleifaul
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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