Hey traders! Today I am looking for EURAUD long. Daily timeframe - clear trend to the downside. According to the nature of the market - the next what will happen is a correction. I found some good resistance at 1.5800. So according to the Fibo - it is also very good and strong level. Keep you updated on this one
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Udpate - Potential pullback starts to form. We formed a huge impulse on the 1H timeframe and already broke the MA50. Massive signal for us!
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Update - Very strong impulse to the downside on the daily timeframe. As I expect we will get that reversal and my target is still 1.5800. But once I wrote it - we got another impulse to the downside. And yeah, I hit the SL on this one (1%) so now I see the good trend reversal is coming especially on the lower timeframe (h4 and h1) we already get first impulse to the upside.
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This pair is all the way up to our target. Lower timeframes looks very good. We got a solid breakout of our MA50 on 4H timeframe, so now NO open trades for me just because of the NFP today. Very very solid and "bullish" trading week for me.
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Update - there is important question - will we get the spike to the 1.5800 level? lol
There is a high chance for me as we didn't get the last wave of Elliot (the 5th wave) So let's see
There is a high chance for me as we didn't get the last wave of Elliot (the 5th wave) So let's see