EURAUD: Weekly uptrend update
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EURAUD has given us bullish signals in the 4h and daily timeframes and now has closed its fifth week without a new low, while being above the weekly mode.
This gives credence to the idea of a strong uptrend in the making here.
I cloned the rally before the big sideways correction, and plotted a lowest high/highest low channel to illustrate my point better. Keep in mind trading decisions aren't made using those tools, since I consider them as not that reliable or objective, but a good thing to add for perspective.
I'm looking to buy a correction in the daily or 4h, as low as possible, to then let it sit for at least 6 weeks holding the remaining position. I usually close certain trades at 0..
Good luck!
Ivan.
This gives credence to the idea of a strong uptrend in the making here.
I cloned the rally before the big sideways correction, and plotted a lowest high/highest low channel to illustrate my point better. Keep in mind trading decisions aren't made using those tools, since I consider them as not that reliable or objective, but a good thing to add for perspective.
I'm looking to buy a correction in the daily or 4h, as low as possible, to then let it sit for at least 6 weeks holding the remaining position. I usually close certain trades at 0..
Good luck!
Ivan.
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