Good afternoon traders!
Today I am looking at a potential long opportunity building on EURAUD.
Why long from here
On Thursday we impulsively moved away from daily support (the bottom of a flat-ish channel). We then created what appears to be a bull flag against a level of resistance turned support. Yes, we are trading below the level but we are moving correctively, indicating we may be able to make a push higher. There is also a new level of support we are holding that was set by the low created on Friday, along with 2 sets of divergence. I will be looking for a break and retest of the 50 EMA on the 15 minute to look for a potential entry before the break of structure with my stop loss set at the more recent lows. The target is the previous highs, I will be looking to trail my stop.
Today I am looking at a potential long opportunity building on EURAUD.
Why long from here
On Thursday we impulsively moved away from daily support (the bottom of a flat-ish channel). We then created what appears to be a bull flag against a level of resistance turned support. Yes, we are trading below the level but we are moving correctively, indicating we may be able to make a push higher. There is also a new level of support we are holding that was set by the low created on Friday, along with 2 sets of divergence. I will be looking for a break and retest of the 50 EMA on the 15 minute to look for a potential entry before the break of structure with my stop loss set at the more recent lows. The target is the previous highs, I will be looking to trail my stop.
Not
We got a nice push down off the 21 EMA, invalidating the long idea for me, for now.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.