EURUAD had a strong Impulse going up. If the pair can manage to retrace close to 0.50% I will open a buy position just because I feel there could be more upside in this pair. If it creates a support at current level I will still be looking to buy in after watching price action
Comment: Ok so it did the latter. Created a support at the current level of publication and is going up. If the Key resistance remains 1.5000 then it will in affect become a double top and then I will short to 1.4760 that will be 240pips. Will set my stop loss only 5 or 10 pips above resistance. Cloud be a low risk trade if it make Double Top.