Price structure are very bullish, after the break out of the CTL i will wait for a retest around minor demand zone and look some candle stick pattern to go long.
Traders! if you like my ideas and do take the same trade like i...
EURAUD break Triangle, make Flag, Wegde, Penants. so i decide to BUY it.
BUY EURAUD at 1.6410
SL at 1.6320
TP1 at 1.6600
TP2 at 1.6615
Basic impulse correction impulse.
Lovely break of the support which was followed by a corrective structure with clearly defined support and resistance. I will be looking to enter aggressively at the resistance looking to ride it down to the two supporting levels of prior.
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Type : Swing & Elliott wave .
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We can see it is bullish from the monthly, weekly and daily chart. refer to the bottom yellow monthly trendline.
Looking at the daily chart we can see it has been respecting the 50%Fib nicely.
Dropping down to lower H4 timeframe, it is has been follow the trendline well, however we are expecting it to break out either around 61.8% or 78.6Fib area to active a buy...
Price making a nice squeeze which means that price will go for another push to fake-out all people who are currently shorting FX:EURAUD
-We got a nice hammer and the bottom of a squeeze, and triple bottom so this just confirms my thought.
Good luck traders.