EURAUD is approaching its crucial support zone marked with a blue horizontal channel.
I've marked a reversal candle (Hammer) with a white rectangle when it had taken support previously from the same levels.
Don't long as soon it comes in the zone. Wait for a reversal sign on a smaller timeframe- 4 hour.
Risk to reward is a little over 1:5. Pretty favourable I'd say.
Stop loss and target has been marked with horizontal blue lines on top and bottom.
I've marked a reversal candle (Hammer) with a white rectangle when it had taken support previously from the same levels.
Don't long as soon it comes in the zone. Wait for a reversal sign on a smaller timeframe- 4 hour.
Risk to reward is a little over 1:5. Pretty favourable I'd say.
Stop loss and target has been marked with horizontal blue lines on top and bottom.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.