Week 31: EURAUD - Bullish (focus)
Mis à jour
I am bullish on this pair for several reason.
- Price bounced off the 200 EMA with a pin bar and followed up with a bull candle on the daily TF with decent volumes
- Double pin bar on the weekly TF with decent volumes
- COT data is bear-bias for AUD futures.
However, price is at POC where some fighting between the bulls and bears will be on going. Therefore I will long at a slightly lower price for a Low Risk Entry (LRE) trade and long it to 1.487 and possibly to 1.5.
- Price bounced off the 200 EMA with a pin bar and followed up with a bull candle on the daily TF with decent volumes
- Double pin bar on the weekly TF with decent volumes
- COT data is bear-bias for AUD futures.
However, price is at POC where some fighting between the bulls and bears will be on going. Therefore I will long at a slightly lower price for a Low Risk Entry (LRE) trade and long it to 1.487 and possibly to 1.5.
Note
Nice up move, too bad my trade is not triggered. Price is now in the middle of 2 COCs area. If price can retrace to 1.47, where a lot of support are, I will try to long it. At the moment, its not wise to chase.
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