Just a brief run through on the setup of EURAUD here.
So we can see off this fib we have reacted nicely off this 50% fib with a strong bearish 4hr candle closure. Off this we closed under the 38.20% and on the retracement back up we have now entered with our stop loss just above the 50% in case of a retest.
EA overall on the daily timeframe is in a down trend and we expect to see this continue with this short term trade. Risking 1% with a RR of 5.94%
So we can see off this fib we have reacted nicely off this 50% fib with a strong bearish 4hr candle closure. Off this we closed under the 38.20% and on the retracement back up we have now entered with our stop loss just above the 50% in case of a retest.
EA overall on the daily timeframe is in a down trend and we expect to see this continue with this short term trade. Risking 1% with a RR of 5.94%
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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.