Plan: EURAUD BUY
This might be a change in trend with two big Marus developed from its lowest low. After breaking off from the range i set an Upward Key Level (clean base) from the lowest low hoping it would jump up from the Key Level and gimme a 1:2 rr.
But if it moves up further from this, i'll wait for a valid break out and only then i'll set the next Key Level.
Not leaving this trade as Set and Forget as it is going against the trend. The encircled might not be a valid break out as the maru is only supported by what i see as just a doji. But after a long downtrend with several downwards Key Levels developed before that, i think its time to change the trend upwards.
Entry: 1.6401
SL: 1.6386 (0.9%)
TP: 1.6431
Risk Management:
1. cancel trade if significant Imbalance developed within the discount zone.
2. Shock Move straight to targeted Upward Key Level.
But if it moves up further from this, i'll wait for a valid break out and only then i'll set the next Key Level.
Not leaving this trade as Set and Forget as it is going against the trend. The encircled might not be a valid break out as the maru is only supported by what i see as just a doji. But after a long downtrend with several downwards Key Levels developed before that, i think its time to change the trend upwards.
Entry: 1.6401
SL: 1.6386 (0.9%)
TP: 1.6431
Risk Management:
1. cancel trade if significant Imbalance developed within the discount zone.
2. Shock Move straight to targeted Upward Key Level.
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