EUR/AUD - TAKING OFF FROM 61.8% OR 78.6%? ANTICIPATING UPSIDE
Reasons to buy:
1) Inverse H&S complete
2) Bullish divergence on the D Timeframe
3) Showing weakness on the 61.8% but could potential push down to the 78.6% before the upside move
My personal details:
Long @ Entry: 1.5220, SL: 1.5140, TP: 1.5700, RR: 6
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
1) Inverse H&S complete
2) Bullish divergence on the D Timeframe
3) Showing weakness on the 61.8% but could potential push down to the 78.6% before the upside move
My personal details:
Long @ Entry: 1.5220, SL: 1.5140, TP: 1.5700, RR: 6
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Kommentera:
the bigger picture, and why this setup played out beautifully
Kommentera:
the throw-over occurred in the 4H