Hello traders welcome to a new trading day. We have a very inactive day when it comes to data. The only high impact data is in the US session. Traders I have looked at the charts and I see a lot of non trending and the trade plans look hard to achieve. As the take profit ranges are small I do believe that those can be passed and we can make more pips than forecast……
Plan Your Trade and Trade your Plan !
OK let us take a look at the trade plan for the EURAUD- This is the 30 minute chart chart. Today I have to say we are looking at current price and I would like to see a pullback as close as possible to the daily pivot point as yesterday trade worked great. I would like to enter this trade at the price of 1.4972 after it has broken out of the trend line and gave us a retest with conformation. I am looking to take profit at the R1 pivot point at the price of 1.4896 zone.
Thank you traders and talk soon…..William