Hi Traders! EURAUD bullish opportunity is forming at the moment. In the below video you will find a detailed explanation of this buy opportunity:
EURAUD D1 Chart:
On the daily chart the price has created a bearish divergence and then the price moved lower creating lower lows thus forming a classical setup of bearish divergence followed by bearish convergence. Hence as per the book scenario we may now expect a pullback to happen and once the pullback completes itself, we may then look for bearish evidences to look for sells. We may now look for evidences of bullish pressure on lower timeframes in order to trade this pullback.Advertisement
EURAUD H4 Chart:
On the H4 chart we had two bullish divergences in a row, which we may consider as evidences of bullish pressure. If the price moves higher and breaks above the high shown in the screenshot, we may then look for pullbacks to happen with bullish hidden divergence to form (either on the H4 chart or on the H1 chart). We may then look for buys with more bullish evidences.
We may look for buys until we get any opposite signs.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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