EURAUD Bullish after Consolidarion Zone
Updated
EURAUD breaking resistance of a consolidation zone
2 candles after, another bullish candle made a re-test
Buy Stop order is placed above the high of that re-test candle
SL is placed in the middle of the consolidation zone in between support and resistance
TP2 is placed in the last significant value zone
TP1 is 50% of movement to TP2
If price reach TP1, we move SL to 40% of the movement between entry price and TP2
Today we have importance news of BCE, but we enter the trade anyway as it is supposed interest and deposit rates wont change too much. Monetary policy statement also coming so trade is risky. News coming in 5-6 hours from now.
2 candles after, another bullish candle made a re-test
Buy Stop order is placed above the high of that re-test candle
SL is placed in the middle of the consolidation zone in between support and resistance
TP2 is placed in the last significant value zone
TP1 is 50% of movement to TP2
If price reach TP1, we move SL to 40% of the movement between entry price and TP2
Today we have importance news of BCE, but we enter the trade anyway as it is supposed interest and deposit rates wont change too much. Monetary policy statement also coming so trade is risky. News coming in 5-6 hours from now.
Trade closed: target reached
Trade ended March 15th reaching TP2
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