EURAUD has been trending in a bullish channel for quite some time now,
points favoring bulls :
Series of Higher Highs and Higher Lows.
Bullish Trend in daily and weekly.
Divergence occurred at 1 hour and 4 hour , which btw has played out, and helped in retracement of the pair.
My plan is to go long on this
Entry at CMP : 1.65565
SL 1.64350 (below an imp support zone )
TP 1 : 1.66531
TP 2 : 1.67846
Point of concern is the sentiment which is short on this pair, But as the saying goes 'TREND IS YOUR FRIEND' ill be buying this pair.
points favoring bulls :
Series of Higher Highs and Higher Lows.
Bullish Trend in daily and weekly.
Divergence occurred at 1 hour and 4 hour , which btw has played out, and helped in retracement of the pair.
My plan is to go long on this
Entry at CMP : 1.65565
SL 1.64350 (below an imp support zone )
TP 1 : 1.66531
TP 2 : 1.67846
Point of concern is the sentiment which is short on this pair, But as the saying goes 'TREND IS YOUR FRIEND' ill be buying this pair.
Note
SL hit trade closed
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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.