EURAUD Long

Note
-EURAUD at the bottom of longterm uptrend channel which has been respected multiple times.
-EURAUD showing intraday price rejection (long daily wick) by forming a reversal candle (Pinbar/Spinning top/Indecision) AT SUPPORT and CHANNEL
-Other EURXXX pairs showing signs of reversal as well
-Stochastic severely oversold at support
-Lower time frames (4H) showing bullish divergence on oscillators

Entry
-Above highs of daily candle

Stop
-Below lows of daily candle

Target
-2 times stop

Risk Management
-Risk 1% to 2%
-Ratio: 2:1