Here we have EURUAD
I believe this is one of the best BUY opportunities we have in the market.
Weekly bullish convergence with a daily 2 waves retracement towards the 50% level on the convergence move AND the 100% level of the two waves ALL ENDING IN BULLISH DIVERGENCE! What more do you want? We have 2 waves up, two waves down (double-double) so what's next? A duplication of the two waves up to form one complete 2 waves, or we end up in a range!
FULL STRATEGY EXPLAINED BELOW:
I have outlined the key strategy here, including TWO price targets to grab for. However after reaching 1.52050 level, watch for some sort of pullback. From there, we watch very closely. If the pull back results in a move that ends on a four hour or one hour chart with a bullish divergence, then this pullback is part if the two waves up and our first target is 1.5418. IF the pullback is NOT producing a bullish divergence on a lower time frame, then we are probably ranging back down to 1.44955 area. Then we reevaluate!
I believe this is one of the best BUY opportunities we have in the market.
Weekly bullish convergence with a daily 2 waves retracement towards the 50% level on the convergence move AND the 100% level of the two waves ALL ENDING IN BULLISH DIVERGENCE! What more do you want? We have 2 waves up, two waves down (double-double) so what's next? A duplication of the two waves up to form one complete 2 waves, or we end up in a range!
FULL STRATEGY EXPLAINED BELOW:
I have outlined the key strategy here, including TWO price targets to grab for. However after reaching 1.52050 level, watch for some sort of pullback. From there, we watch very closely. If the pull back results in a move that ends on a four hour or one hour chart with a bullish divergence, then this pullback is part if the two waves up and our first target is 1.5418. IF the pullback is NOT producing a bullish divergence on a lower time frame, then we are probably ranging back down to 1.44955 area. Then we reevaluate!
Comment:
UPDATE: we seem to be having trouble on the range. This is expected. We may resets the key support (orange levels) and bounce to the top. However, if we break the key orange, DO NOT ENTER!
Comment:
Ah, back to what we predicted. Up we go.
Comment:
We are on our TRENDLINE, a break of this will confirm our level, a fall will indicate that maybe we have reached a temporary top, this would be likely considering MOST Euro pairs have turned bullish.
MY RECOMMENDATION: Take profits earlier than later on this pair
MY RECOMMENDATION: Take profits earlier than later on this pair
Trade closed: target reached:
Im going to go ahead and close this idea as I have closed my position as well. EURAUD was a big payer, and if you used this chart to enter congratulations, because it has beem up up and away since our buy signal!
And just because I take profit doesnt mean the trade wont hit is target, feel free to wait until maximum limits, BUT SET A STOP LOSS TO AT LEAST BREAK EVEN, or maybe snag a few pips minimum!
And just because I take profit doesnt mean the trade wont hit is target, feel free to wait until maximum limits, BUT SET A STOP LOSS TO AT LEAST BREAK EVEN, or maybe snag a few pips minimum!