EURAUD: Trendline Break within Parallel Channel
Updated
EURAUDTimeframe: H4
Direction: Short
Confluences for Trade:
- Bearish candle formations
- Stochastic Overbought momentum
- Price action at Resistance of Parallel Channel
- Breaking S/T Trendline within Channel
- Widening gap between the EMAs
- Fundamentally, EU-Italy impasse uncertainty yet to be priced in and may be volatile in the coming days while the AUD weakness has been pretty much priced in over last weekend
Suggested Trade:
Entry @ Area of Interest 1.5570 - 1.5850
SL: 1.5918
TP: 1.5559
RR: Approx. 2.10 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Note
Lock in half profits and move SL to BE. Run the remaining position totally risk free.Trade closed: stop reached
Closed at BE. Risk free trade. :D
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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