EURAUD 240MHello traders!
This trend might be a little overplayed but it may still deliver the pips. In this trade we
are shooting for 40 pips between lines B and C. Looking back at the nature of this trend,
the T1 and T2 levels are more likely to be hit, rather than the T3 level which could be a
launch level, thereby eliminating our short but we won`t know until Monday.
These trades can be taken with a buy stop order as a set&forget setup or we can wait for the body
of PA to close below line B as with the T1 level.
It`s recommended to position stop no further away than 1:1 RR away from entry, although this
may vary with markets and volatility.
Best,
Jay
