EURAUD: Classic Trend-Following Trade Explained
EURAUD is testing key daily structure support .
Taking into consideration that the market is trading in a bullish trend ,
we may catch a nice trend-following trade from there.
Our confirmation is a double bottom formation on 1H.
1.6213 - 1.6225 is its neckline.
Wait for its bullish breakout (1H candle close above)
the buy on a retest.
Initial goal will be 1.63
In case if the price sets a new lower low on hourly,
the setup will be invalid.