EURAUD - BULLISH BIAS
~ WEEKLY - Price has had a strong bearish momentum, however, we can see that it has recently slowed down but still on a downtrend.
~ DAILY - We wait for price to pull back to the AOI which is a strong fib level, psychological level and most importantly, multiple rejections making it a strong resistance level.
This is a high risk trade as we are looking to take a counter trend trade. Market is bullish across all 3 timeframes - Weekly, Daily and 4HR.
As price moves down to my level, I will wait for my confirmations across multiple timeframes and see how price reacts.
#forextrading #tradingeducation #swingtrader #tradingstrategy #mjswings
~ WEEKLY - Price has had a strong bearish momentum, however, we can see that it has recently slowed down but still on a downtrend.
~ DAILY - We wait for price to pull back to the AOI which is a strong fib level, psychological level and most importantly, multiple rejections making it a strong resistance level.
This is a high risk trade as we are looking to take a counter trend trade. Market is bullish across all 3 timeframes - Weekly, Daily and 4HR.
As price moves down to my level, I will wait for my confirmations across multiple timeframes and see how price reacts.
#forextrading #tradingeducation #swingtrader #tradingstrategy #mjswings
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