EURAUD trading idea
As we see the EA rallied up to the upper trend line which also is the EMA200. We can expect a bounce down from here.
the 4H chart shows a first red candle, but if it starts to range here we could expect a move up, but a more likely(technically) scenario is a move down to at least the previously 4h tops (green demand zone).
To time an entry we use 1h chart to get confirmed Lower High and enter as it closes below previous Low (Ross hook).
Trading Idea:
SHORT: when we have a confirmed 1-2-3 pattern with a new Lower high with a TP at 4h demand zone @ ~1.40 SL:1.437
(Long: enter at 1.435 after ranging 4h bars TP:1.445/1.4600 SL:1.422)
the 4H chart shows a first red candle, but if it starts to range here we could expect a move up, but a more likely(technically) scenario is a move down to at least the previously 4h tops (green demand zone).
To time an entry we use 1h chart to get confirmed Lower High and enter as it closes below previous Low (Ross hook).
Trading Idea:
SHORT: when we have a confirmed 1-2-3 pattern with a new Lower high with a TP at 4h demand zone @ ~1.40 SL:1.437
(Long: enter at 1.435 after ranging 4h bars TP:1.445/1.4600 SL:1.422)
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