Price breakout sell level. So we need to buy now.
Open long on EURAUD 1,5749
SL - 1.5709
TP - 1.6077
RRR - 1:8.44
Very big TP so we close position early than TP.
AUDUSD and AUDJPY going lower so it good potential to take some pips.
Let's catch some profit:)
Good that i closed sell positions on last idea on EURAUD
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EURAUD EXPECTED GOING TO UP.
European Council meetings are chaired by Herman Van Rompuy, President of the European Council. They take place in Brussels, in the Justus Lipsius building, with the assistance of the General Secretariat of the Council. The meeting will involve the Heads of State and Government of member states. Parabolic Curve Pattern Strategy
I bought EURAUD for few reasons
1) EURUSD going higher
2) AUDUSD going lower
3) EURAUD has good buy impulse and breakout main levels near 1.5918 and 1.5874
So i take buy order at 1.5971 SL - 1.5827 TP - 1.6560 And RRR - 1:4
Yes, big SL. Use small lots.
Why is this so:
It has double bottom with bullish divergence.
Price penetrated the double bottom neckline and go higher before pulling back.
The pullback tested the support/neckline and created a bullish key reversal.
Already LONG at 1.5885.
Price will probably move higher at least towards resistance at 1.6335.