EURAUD possible entry

FX:EURAUD   Euro / Australian Dollar
Hi traders,

Description in the chart. Enter at the retracement, after confirmed breakout.

Best of luck! Follow me for updates!
how do you know retracement wouldn't be a false positive and price keep jump up and break 1.47203?
11021992 lkthomas
There is no way to be sure, but price has tendencies to move in certain ways. Most breakouts are followed by a retest. Some of them move so fast, that they don't even make it to the retest. Other times the structure gets broken again to the upside.
We can't win them all. It's about picking the right R:RR combined with win ratio.

In the chart we see price forming new lower highs, while the lows remain at the same value , meaning that sellers are usually in control.
+1 Reply
lkthomas 11021992
So basically join in the trade when retracement happen should be a standard trading plan, correct?
11021992 lkthomas
For me it is, yes. And for many other people.
It is one of the easiest trading methods. Very easy to spot, good win ratio and good risk:reward ratio. No need to make things complicated.
+1 Reply
lkthomas 11021992
how exact do you place order above/below trend line? 10 pips behind or what?
11021992 lkthomas
The lines on the chart are just arrows indicating expected price action, not actual trendlines.
My stop is placed above the grey structure bar. The entry is just below the grey structure bar.
Total stop loss is 270 pips, which is pretty big. However, it's a long term trade.

If you have any more questions, please send me a personal message :).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out