EURAUD
Symetric Triangle - Symetric triangle after a high is reached. Change to downtrend.
- Triangle has 4 touches
- Clear break downwards
- Not great RRR but EMA's confirm breakout and downtrend.
- SL in the last high
- TP2 little bit less than the tipical triangle measure (highest - lowest point). Minus that measure to breakout point
- TP1 is 50% movement
- Once TP1 is reached, we move SL to 40% movement in profit.
- Lot of pips to SL but we use very low lot.
- Relatively falling volume make another clue for symmetric triangle pattern
Release of high impact EUR Fundamental News tomorrow. Bad predicted numbers should bring down the pair
Trade closed: target reached:
TP1 HIT. Moved SL and then hit also