EURAUD pair is trading in a nice upward channel on 15m TF. Bouncing precisely off the lower parallel AND 61.8% Fib. The chart is showing, in addition, how the vicious stop hunting works... Targets... 1.median line and 2. upper parallel.
Thank you. I really appreciate your comment. I have seen you analisys and you are right. My analysis was intended for a trade setup *after* Retail Sales that came out minutes later.
I am not used to trade just before economic data announcement.
It is going down because Retail sales were good.
Congrats for your trade. Keep up your good work.
Praguinha
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Hi buddy, dont think its an upward channel, its a week chart, it is still bearish in my opinion... until maybe the big resistance at 1,5350 or lower... you can see some elliott waves In this weekly channel... but its a thought...