EURAUD 4H 50 sma to determine direction of pair
Updated
We are at a cross roads at the 50 sma again. Price could attempt a 4th crossing to the 100 sma and create higher highs and higher lows to confirm a new reversal trend long. Or price will fail again and return to the original short trend. The Macd will help in determining the markets decision what direction to go also.
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Note
Market decided to take this pair long. The 100 sma is @ 1.4759. If you had placed your TP before the 50# @1.4745 your trade would have hit your target. The macd did continue its upward climb with distance between the blue and red lines. The chart indicated a preference for the long trade since it had open and closes above the 50 sma. A SL would be just below the 50 sma. With hide sight I can see that now, sorry I missed that in the original review.
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