Yuriy_Bishko
Long

EURAUD, Move to Key Level...

FX:EURAUD   Euro / Australian Dollar
The price can bounce from Key Level 1.58918.
I'll wait for confirmation with false breakout pattern before Buy entry.


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Comment: if you trade this idea, 2nd target is coming
Comment: New idea
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Where could be the sl point?
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Yuriy_Bishko ASHADUZZAMANRANA
@ASHADUZZAMANRANA, Your s/l depends of trading strategy you use and you money managament.
I try to set my trades with 1:3 or more risk/reward ratio
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Dont you think it might bounce here on a strong trendline ?
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Yuriy_Bishko nortonrobinson
@nortonrobinson, it's more chances for bouncing near Buy Zone
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maharjan Yuriy_Bishko
@Yuriy_Bishko, oh man how can you be so Smart, it bounced from your suggested buy zone ie 1.5904 ...goodness me!!
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@maharjan, it's so simple))
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@maharjan, just 7 years of trading with technical analysis))
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@maharjan, anyway thank you for your comment!
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Your idea is confirmed by multiple chart RSI divergence - 30 min, 1H, H4. A series of oversold levels being hit and one last dip is needed to enter buy. Well spotted Yuriy!
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@Erland, Thanks for your support Erland
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