UmitAbdulkasim

$EURAUD BULLISH. Target 1.5995.

Long
FX:EURAUD   Euro / Australian Dollar
EURAUD made a higher low and formed a double bottom pattern and fixed above the resistance of the pattern before market close, indicating a continuation of buying pressure for the week ahead. I entered when I saw a reversal happening at the 1.56 support zone and our position is +17% in profit so far. In addition, the market is finally above the ichimoku cloud and as you can see from the chart, it had been getting rejected by Senkou A (the top boundary of the cloud), multiple times and when it had broken out from it at the start of December, it was followed by a +1% increase. We had been oversold in this market and there was a bullish divergence forming on RSI and momentum, all to support the bullish argument for the pair. I will hold the position with a trailing stop until the target is reached. Follow me for more trade ideas and market analyses. Best, Umit *This is not investment advice.

Comments

Agreed 🎯
+2 Reply
UmitAbdulkasim JAYGRAFTTHETRADER
@JAYGRAFTTHETRADER, Thank you :)
Reply
Nice! Agree
+1 Reply
UmitAbdulkasim EasyCharts
@EasyCharts, Thank you :)
Reply
Agree! Great job.
+1 Reply
UmitAbdulkasim AlkalineFX
@AlkalineFX, Thank you :)
Reply
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