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EURAUD 60 Min Chart Analysis
Hello traders today we are looking at the EURAUD 60 minute chart. I really enjoy trading this chart as when it is in the trend it just works and this pair on an average over 4 weeks does over 120 pips per day. Ok let is take a look what I did was a reverse Fibonacci from the bottom of the swing to the top. I wanted to see where the 161.8 was as that is a great place to figure to take profit. We are in our Fibonacci zone and now just looking for that bearish engulfing candle to make our entry. As you can see on the chart price action is sitting on the daily Pivot point. We need a close below that to make our move. There is plenty of pips to be made on this trade you also can see after we break the daily pivot we have a large clear open space for a nice down sell trade. Thank you Traders….. William
Source: http://www.fxinstructor.com/blog/euraud-60-min-chart-analysis
