EURAUD is in a box so we have two scenarios:
1- Wait that price breaks support (this support was a resistance in May 2018 so now it works as a support.
My pending order is a Sell stop below low of 1st week of October 2018, stop loss just above the support and take profit to next support zone. Risk/reward ratio is 2.25.
2- Support is still in place also next week, so target is resistance line: my plan is to wait for a price action signal and place a buy order with take profit at resistance line and stop loss at support line.
In this case is very important to follow the trade because there is a possible reverse at fibonacci level 61 or 78 so move the stop loss breakeven as soon as price goes above fibo level 50.
ADVICE:
This idea is based on my researches, do your own study and don't invest based on this idea only.
If you like my scripts and ideas and find it useful to you, please consider to offer me a coffee:
Donate 1$ or BTC equivalent at my blockchain wallet 1M4evumNsLBqrovYLpqATiQTLQZXUKZGYU&amount=0.00016041.
Thanks
Please use comment section for any feedback.
1- Wait that price breaks support (this support was a resistance in May 2018 so now it works as a support.
My pending order is a Sell stop below low of 1st week of October 2018, stop loss just above the support and take profit to next support zone. Risk/reward ratio is 2.25.
2- Support is still in place also next week, so target is resistance line: my plan is to wait for a price action signal and place a buy order with take profit at resistance line and stop loss at support line.
In this case is very important to follow the trade because there is a possible reverse at fibonacci level 61 or 78 so move the stop loss breakeven as soon as price goes above fibo level 50.
ADVICE:
This idea is based on my researches, do your own study and don't invest based on this idea only.
If you like my scripts and ideas and find it useful to you, please consider to offer me a coffee:
Donate 1$ or BTC equivalent at my blockchain wallet 1M4evumNsLBqrovYLpqATiQTLQZXUKZGYU&amount=0.00016041.
Thanks
Please use comment section for any feedback.