Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
EURAUD completed a retrace to the 100% fibonacci level and started to move back up. Market structure remains bearish on the H4 and D1 charts making entries risky
Await retrace to the 61% fibo level and consult the H4 chart. If price had gone above the 10/20 EMA and the MACD is positive, we have high probability trade of 50 to 200 pips
Recommendation:
EURAUD completed a retrace to the 100% fibonacci level and started to move back up. Market structure remains bearish on the H4 and D1 charts making entries risky
Await retrace to the 61% fibo level and consult the H4 chart. If price had gone above the 10/20 EMA and the MACD is positive, we have high probability trade of 50 to 200 pips