• Vasily Trader

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.