EUR strengthening: Potential Buy Stop
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
EURAUD completed a retrace to the 100% fibonacci level and started to move back up. Market structure remains bearish on the H4 and D1 charts making entries risky
Await retrace to the 61% fibo level and consult the H4 chart. If price had gone above the 10/20 EMA and the MACD is positive, we have high probability trade of 50 to 200 pips
Recommendation:
EURAUD completed a retrace to the 100% fibonacci level and started to move back up. Market structure remains bearish on the H4 and D1 charts making entries risky
Await retrace to the 61% fibo level and consult the H4 chart. If price had gone above the 10/20 EMA and the MACD is positive, we have high probability trade of 50 to 200 pips
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.