Forex Factory | Learn To Trade EURAUD SELL?
show we need to open H4 time frame EURAUD Chart and need to check our previous chart. In this H4 chart ,
we can easily see that the market is completed their retracement in H4 Now market is trying to drop from the major Zone area .
Now if we go about the candlestick analysis then we can easily see that there is a one Bearish candle and just next candle is given a perfect shooting star so this is clearly indicating that the market Euro AUD is perfectly ready to sell .
So guys we have sold EURAUD & Placed our stop loss and tp1, tp2 and tp3 in the market.
How I Understand Support & Resistance?
I want to tell you that if you are getting confused to creating how to understand your perfect area and support and resistance?
You just need to use the line draw chart and you can easily find out that where is the resistance and where is the support.
This will help you to understand your exact entry Point. In this chat I have shown in both the line chart in first picture diagram and the second I have shown you in candlestick so it will help you to understand you that where is perfect area & Candlestick formation takes place and where is a support and resistance as well as how the candlestick is performing and making it confirm that how we can enter into the trade.
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This is a Trade Where We Have Taken Entry With Three Confirmations.
1- first confirmation was the candle/Market is completed their Retracement.
2- 2nd technical pattern is the candles is made Bearish on Zone Area.
3- Third is the candlestick analysis that there is a formation of shooting star .
That is why we have taken entry into the trade and now you can see the market is growing positive so I hope you will book great amount of profit best of luck have a good day.
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