We have a nice swing trading signals from our Elite Trading System in EURAUD on the Daily Time Frame. At the moment, it looks like EURAUD is within a range but it’s going to head south this coming week. The Elite Swing Trader is also having a sell signal. You must understand that indicator are indicators and we do not trade all signals generated by Indicators. Instead, we use indicators as filters or as a tool to fetch us possible trading opportunities for us to consider.
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And in this instance, we believe that this Swing Trading Signal is worth to trade as we look at EURAUD as bearish and will likely continue it’s bearish move south this coming week.
- Entry: At Current Price (1.58836)
- Stop Loss: 1.60500
- Take Profit: 1.57850
We are going to put the stop loss on the swing high at 1.60500 and the Take Profit Target at the next immediate low of 1.57850.
And if you have been following all our trade signals, we usually like to have a set and forget trading approach. You might also ask what kind of position sizing should you take for this trade. This is subjective but for sustainability and longevity of your account, we will suggest that you trade with 0.01 lot for every $1000 in your portfolio.
If you have enjoyed this trade or have questions, please post your comments below. If you like to get a copy of the Elite Swing Trader, then click here to learn more.
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