EURAUD has dropped a lot the past few weeks and went in a straight line towards the current support area. There is the potential for a bounce here and best case scenario we start to see a small wedge developing. If this happens i will make an attempt at the low of that wedge to get in with half a pos and increase it if the wedge breaks upwards.
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It made a quick dump earlier today which seems to be a false break out. So far it's following the blue line to the point. I will increase if we break the wedge on the upside as explained above.
Trade closed: stop reached
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The idea is not completely over yet, but i am going to leave it as it is for now. Maybe next week if i see something again.