EURAUD potential high-probability setup.
Previous downtrend finished early September 2014, since then new higher highs and higher lows formed : back in uptrend.
Area to look for in the blue rectangle.
1/ Trading with the trend
2/ Key level at 1.4580 (narrows)
3/ 50% Retracement
4/ Trend line
Last factor I'm waiting for : 5/ Reversal candles formation (low test, doji, ... etc).
You can notice there's a similar setup for GBP/AUD. Both are correlated, I will end up by only taking one of them.
Waiting for such technical high-probability setups will make you a constant winner in the Forex market.
Less trades, higher probability to work out, less stress, more time to enjoy your day (instead of scalping the 1m and 5m timeframes your whole days, which may work for some months but will eventually make you lose it all).
Previous downtrend finished early September 2014, since then new higher highs and higher lows formed : back in uptrend.
Area to look for in the blue rectangle.
1/ Trading with the trend
2/ Key level at 1.4580 (narrows)
3/ 50% Retracement
4/ Trend line
Last factor I'm waiting for : 5/ Reversal candles formation (low test, doji, ... etc).
You can notice there's a similar setup for GBP/AUD. Both are correlated, I will end up by only taking one of them.
Waiting for such technical high-probability setups will make you a constant winner in the Forex market.
Less trades, higher probability to work out, less stress, more time to enjoy your day (instead of scalping the 1m and 5m timeframes your whole days, which may work for some months but will eventually make you lose it all).
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