EURAUD VIP LONG

EURAUD LONG

Why are we entering?
- We broke out of the descending trend and now in a descending correction before we are bullish
- Being held down by DAILY EMA
- Expecting AUD weakness and EUR strength

What is our confirmation?
- Break of DAILY EMA and WFB
- Bounce off our ascending trendline
- Break of possible RISK trendline

Entry
- Safe Entry: Bounce off our ascending trendline with a break of our Possible RISK trendline
- RISK Entry: Bounce off our ascending trendline
- RISK Entry 2: Early break of our possible RISK trendline or DAILY EMA

Once entered, where will our Stoploss be?
- below our structure level and trendline (1.465) 30 pips

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
First TP: 1.496 (280pips)
Final TP: 1.532 (640pips)