👑 EURAUD PRICE ACTION TRADING V-BOTTOM
Hello Traders! We have identified a potential trading opportunity on EURAUD, where a V-Bottom pattern has formed, indicating a possible bullish scenario.
EURAUD chart has formed a V-Bottom pattern, which typically follows a rapid decline in price followed by a quick upward move.
The current price is near the breakout level at 1.65828.
For Long Position.
Consider initiating a long position if the price breaks out above the level of 1.65828 with confidence and a surge in volume, validating a potential bullish scenario.
Place a stop loss at 1.65023 after a clear breakout.
Target Zone 1:
62% of the V-Bottom pattern's range at 1.67446.
79% of the V-Bottom pattern's range at 1.67888.
Target Zone 2:
127% of the V-Bottom pattern's range at 1.69162.
162% of the V-Bottom pattern's range at 1.70076.
Ensure that the price breaks out above 1.65828 with confidence and a volume surge for pattern confirmation.
Risk Management: Set a stop loss at 1.65023 to manage risk effectively.
If you find this idea beneficial, please leave a comment and follow for more great setups!
TCPLTP
Comment
Comment
Comment
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.