💡 Trade Idea
📈 EUR/AUD | Buy Limit Order @ 1.5472
🎯 Target Profit 1.5566
🛑 Stop Loss 1.5435
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck !
The price is trading within a bullish channel formation where the price formed a bullish flag formation. A slight correction to the downside is expected to the 1.5472 USD mark...
From what I can see on the daily price is just ranging in this small area however there is still an opportunity to make profit.. Price has broken its current structure and is going to retest its support zone
I am waiting for a bounce off of one of the Fibo levels then we can go long
For more than 2 months now, EurAud is trading in a range with a base on 1.61 zone and a top at 1.65.
Now the pair is approaching the low of the range and I expect a rebound from here.
I'm looking for a signal to buy in this zone for 1.64 target.
Interim resistance is at 1.6250
All is explained in the chart, price is currently at a strong support level that has previously been used as strong resistance so this proves this is a very strong key level.
This is as simple setup as you can get with 2 very nice targets that if met will have you counting your money for days ;p
You can also use a tight stoploss on trades like this because if...