Hi Traders! EURAUD bullish opportunity update and follow up is here. In the previous post here I mentioned “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”. Lets see how this setup has developed now.
EURAUD H4 Chart:
On the H4 chart the price couldn’t break the high we were looking for, instead it pushed lower and created a new low. The second possible bullish divergence is now forming which gives the opportunity to look for aggressive buys. We may look to join the bulls upon completion of the false break and the bullish divergence, which we may consider as evidences of bullish pressure.
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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