EURAUD long entry at the retracemen
Updated
Hi traders,
Yesterday I posted about a EURAUD looking for a long entry around the 1.4350 area, but price already went up like a rocket. The EURAUD finally broke the steep bearish trendline. I am now waiting for price to retrace back to the most recent structure or the trendline. Stop goes below the lows at 1.45 area.
Entry: 1.46250
Stop: 1.44550
Target 1: 1.49188 = R:RR 1.73
Target 2: 1.51990 = R:RR 3.38
I wouldn't be surprised if the retracement doesn't go all the way down to my entry point, but in order to keep a good risk:reward ratio we have to wait.
I will be updating this as time progresses. Best of luck!
Yesterday I posted about a EURAUD looking for a long entry around the 1.4350 area, but price already went up like a rocket. The EURAUD finally broke the steep bearish trendline. I am now waiting for price to retrace back to the most recent structure or the trendline. Stop goes below the lows at 1.45 area.
Entry: 1.46250
Stop: 1.44550
Target 1: 1.49188 = R:RR 1.73
Target 2: 1.51990 = R:RR 3.38
I wouldn't be surprised if the retracement doesn't go all the way down to my entry point, but in order to keep a good risk:reward ratio we have to wait.
I will be updating this as time progresses. Best of luck!
Note
Moving entry to 1.4350.Stop at 1.4250.
Targets will be given later.
Related publications
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.