EURAUD: Trade Opportunities for Buyers and Sellers
The 1H chart gives us trade opportunities in both directions.
The price broke the local uptrend line. It gives a bearish signal with the stop above 1.73825 and the profit target at 1.70080 support. This signal is in the direction of the main downtrend.
If the price breaks the main downtrend line and SMA200, it will be a trend reversal signal. This buy opportunity will be in line with the higher timeframes. Stop orders must be placed below the local swing low. Profit targets can be based on round numbers.
Risk per trade must be no more than 1% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price broke the local uptrend line. It gives a bearish signal with the stop above 1.73825 and the profit target at 1.70080 support. This signal is in the direction of the main downtrend.
If the price breaks the main downtrend line and SMA200, it will be a trend reversal signal. This buy opportunity will be in line with the higher timeframes. Stop orders must be placed below the local swing low. Profit targets can be based on round numbers.
Risk per trade must be no more than 1% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.