EURAUD - Bullish Reversal

19 Jun

I am entering a long position on EURAUD, based on the fact that the daily candle will close with a long lower wick, and very small upper wick. This indicates to me that the downtrend could be retesting the trendline, or finished completely. Volume is also much lower, which shows that price action will correct back up. My trade is as follows: Enter 0.54267, Stop Loss 0.54040, Take Profit 0.54650. 1:1 RR. Swing Trade.https://www.tradingview.com/x/YE9Apj2R/