EURAUD is bouncing nicely off major support presenting us with a good buying opportunity.
Buy above 1.6058. Stop loss at 1.6020. Take profit at 1.6185.
Reason for the trading strategy (technically):
Price is testing major support at 1.6058 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, ascending support) and a strong bounce could occur...
Price finally broke and close above the multi timeframe ranging formed for some days (1.5761) turning the top of the range into a strong support level lined up with the multi timeframe. Nice entry in a possible retest to the top of it, so wait till price get mltiple close above this area.
i buy euraud at 1.5650 because he is much oversold and face a weekly support.;so i bet on a rebond of 80pts for start.
with a <SL at 1.5620..me i will not make but at 1 long if he go there like a dip or even just go there
EURAUD is seeing strong ascending support maintain our bullish momentum. We’re also seeing strong horizontal overlap support at 1.5799 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a bounce could occur at this level to push price back up to 1.5951 once again (Fibonacci extension, horizontal swing high resistance).
EA did make a long flat here as I was saying, broke out and made a 1 hr flag. It could potentially go up a lot. But you have to consider the probability of retracement and I personally will not be placing my stop under the low but be careful and I will only give it enough room for a wave 2 % retrace and will be manually trailing. It can potentially become a sell...
EURAUD is bouncing nicely above major support at 1.5625 (Fibonacci retracement, horizontal swing low support) and a further rise could see price push up to 1.5770 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing a nice bounce above 4.8% support with really good upside potential, similar to what we’re seeing in...
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Please note I am only providing my own trading information for your benefit and insight to my trading techniques,
you should do your own due diligence and not take this information as a trade signal.
EURAUD has finally broken our major support-turned-resistance line at 1.5639 (Fibonacci retracement, horizontal overlap resistance) and a strong drop could occur from here that could push price all the way down to 1.5494 (Fibonacci retracement, horizontal pullback support).
RSI (89) is still holding well above our ascending support line and only a break of this...
just for fun and easy setup,for beginner if they want to enter by themself in this trade
as you see is in perfect range
so what you ave to do is to wait a price fo out for this range (rectangle) and to wait a bit a confirmation and then enter short or long and manage your ratio or doing you first scalp alone.
Quiet market so i see that perfect range i wann post...
i short at 1.5695 (1.5700 psychological level) to target a easy pullback on 1.5630-35 = 65 pips
1.5700 psychological level
1.5700 weekly resistance
overbought in short term
a small pullback is welcome i think
enter at 1.5695-1.5700
gains around 60 pips
2 x 1 lot
forst lot will cut at + 25-35 pips and the second lot i will make a Stop loss...