EURAUD Quick retrace before more upward movement
Updated
Quick retrace before conitnuing with the strong momentum up. Good chance to jump on and get some quick pips.
This is only based on the MACD, RSI + Stoch indicators being in line for a drop, but not expecting to far of one.
Looking at first level of 1.42191, with a move of the TP if that is met and continuation downward to the 61.8%
This is only based on the MACD, RSI + Stoch indicators being in line for a drop, but not expecting to far of one.
Looking at first level of 1.42191, with a move of the TP if that is met and continuation downward to the 61.8%
Trade active
SL Kept tight incase of further strong move up. Aiming for TP 1, will maintain and watch to see if this moves downward strongly.Trade active
Moved stop loss late last night another 300 pips up. Smart choice as the reversal seems to be in play now, with a strong down candle in play. Will wait it out to see what happens.
Note
Also noticed, a great double top formed at a major resistance line. Should be a good retrace back to 61.8% level, then onward and upwards again.Trade closed: target reached
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