So we nailed and some the Bullish retracement! However, the EURO has recovered too quickly. It launched back up to our 100MA (Blue) exactly as aniticpated, now with the Stoch.Osch & RSI indictors will tell you on the 4H & Daily that we need to come back down in a Bearish move towards our lower Support Zone and Trend Channel
From our analysis at last the EUR has found a point and slammed the brakes on hard. The Stoch.OSC and RSI are both almost flat lining on the bottom and screaming to go long Bullish. We don't anticipate a full climb back up but to the top of the above trend channel
So end of this week has found that EURAUD bouncing of the hugely over bought 80 mark line for the RSI which means we will be imminently be reversing and heading back down. Looking forward to profiting on this one!
So since Entering a SELL almost 2days ago we hit TP1 and now securing position 2 by bringing our Stop Loss into Stop Profit. this is now a risk free trade and we estimate only half way there. Either way...PROFIT HAS BEEN MADE AND ANYMORE IS A BONUS!