EURAUD - Purple War Zone!
Hello everyone, if you like the idea, do not forget to support with a like and follow. EURAUD is overall bullish trading inside the red channel and now approaching the lower trendline acting as non-horizontal support. Moreover, the green area is a "Resistance turned into Support". So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of support in green and the red trendline. As per my trading style: I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...) Unless EURAUD breaks the green zone downward aggressively with many big bearish candles, then it will become resistance again and we will be looking for sell setups on its retest. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
0xsignals
EURAUD - Purple War Zone!
Hello everyone, if you like the idea, do not forget to support with a like and follow.
EURAUD is overall bullish trading inside the red channel and now approaching the lower trendline acting as non-horizontal support.
Moreover, the green area is a "Resistance turned into Support".
So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of support in green and the red trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom , trendline break , and so on...)
Unless EURAUD breaks the green zone downward aggressively with many big bearish candles, then it will become resistance again and we will be looking for sell setups on its retest.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
