EURAUD Trade Setup
This is a fakeout as indicated by the bearish harami candlestick pattern on the 1.68211 horizontal resistance level; there's even a confirmation of the downward trend 📉 by the next candle 🕯️.
A market entry around the 1.67435 price level, a sufficient stop loss (stops shouldn't be too tight so that you don't get stopped out of the trade only for the market to later retrace and hit your target price) and take profit such that you have a reward-to-risk ratio of 3 or higher should be apt.
Don't forget to apply appropriate risk allocation by trading the right position size (lots) and risking not more than 1%/2% of your current account balance on a single trade.
A market entry around the 1.67435 price level, a sufficient stop loss (stops shouldn't be too tight so that you don't get stopped out of the trade only for the market to later retrace and hit your target price) and take profit such that you have a reward-to-risk ratio of 3 or higher should be apt.
Don't forget to apply appropriate risk allocation by trading the right position size (lots) and risking not more than 1%/2% of your current account balance on a single trade.
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