EURAUD has dropped a lot the past few weeks and went in a straight line towards the current support area. There is the potential for a bounce here and best case scenario we start to see a small wedge developing. If this happens i will make an attempt at the low of that wedge to get in with half a pos and increase it if the wedge breaks upwards.
Note
It made a quick dump earlier today which seems to be a false break out. So far it's following the blue line to the point. I will increase if we break the wedge on the upside as explained above.Trade closed: stop reached
The idea is not completely over yet, but i am going to leave it as it is for now. Maybe next week if i see something again.
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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.