I love getting punished by the markets so I'm attempting another long on the EURAUD. This time, I will wait for strength to enter, and that strength will be on a move above 1.4730, which will confirm a buy signal on my proprietary indicators. I will enter half long there, and then I want to add another half long on a break above the upper channel line at 1.4780. Here's my trade:
1/2 position buy stop at 1.4730
1/2 position buy stop at 1.4780
Stop loss at 1.4580
Profit target at 1.4920
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.