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TanYuFeng

EURAUD [Daily, Long]: False Break Setup

Long
Euro / Australian Dollar (OANDA:EURAUD)  
TanYuFeng Updated   
OANDA:EURAUD   Euro / Australian Dollar
Support and Resistance Candlestick Analysis Moving Averages falsebreak
1
0
supportandresistance candlestick movingaverage falsebreak
Overall trend is bullish as above 200MA
False break Setup: Candle movement towards support looks clean, will go long if the market takes out previous structure low and there is price rejection towards the long side.

Entry: enter after price rejection on candle open
SL: 1ATR below support
TP: trail on previous day candle high
Order cancelled:
Price took out previous structure low and rallied lower without price rejection to the long side.

False break setup is invalidated.
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