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anilmangal
Aug 23, 2016 8:02 PM

EURAUD buy setup Long

FX:EURAUD60
Euro Fx/Australian DollarFXCM

Description

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The EURAUD broke the down trend line has made a flag. Buying the break of the flag (using a tested strategy) is a good idea.

Trade with care.
Thank you for your support.

Comment

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The breakout didn't go so use a stop , if stopped out then we will look for the next setup. Looks like a bigger correction is in the making .
Elliott Wave
Comments
deLazyLizard
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My view:

deLazyLizard
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deLazyLizard
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Sorry, the stupid R:R is blocking the view :-(
SRPMT
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Your daily down trend line is draw incorrectly i.e your perspective may get distorted. May i suggest look at weekly and draw a outer and inner trend line then go to daily chart. Just my thoughts, hopefully may help.
deLazyLizard
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?? That's an upward trend line...
SRPMT
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not counter trend line the one running down
SRPMT
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You will notice price as already broken down trend line and present re-testing if you connect the 1st point where you have started to 2nd point (wick) by your stop is.
deLazyLizard
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That is the fibonnacci line, not a down trend line.
WaveExpert
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Good Luck
mlbo
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sh$$T happens. lets look forward to the next one. or a better entry
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