Major long idea for EURAUD
Updated
Hello peeps,
here we have a longer term trade setup.
This trade analysis is divided in HT (higher timeframe - weekly) and DT (detail timeframe - 4h)
HT:
- bullish trend
- key W sup/res level
- touching 50 EMA
- wykoff: end of trend phase, which usually inherits a sell off and a continued contraction phase
- not a dead market with RVI > 30 (another indicator that we haven't entered a contraction phase)
DT:
- wykoff: identified last contraction phase (blue box), currently in expansion phase
- price hitting key HT supp. level
- smaller red candles and increased price action, indicating momentum loss
All the best,
c4ss10p314
here we have a longer term trade setup.
This trade analysis is divided in HT (higher timeframe - weekly) and DT (detail timeframe - 4h)
HT:
- bullish trend
- key W sup/res level
- touching 50 EMA
- wykoff: end of trend phase, which usually inherits a sell off and a continued contraction phase
- not a dead market with RVI > 30 (another indicator that we haven't entered a contraction phase)
DT:
- wykoff: identified last contraction phase (blue box), currently in expansion phase
- price hitting key HT supp. level
- smaller red candles and increased price action, indicating momentum loss
All the best,
c4ss10p314
Trade active
readjusted sl to break even
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