Yesterday I took a trade on the EURAUD based on the daily charts, I like the way its trading because both, the bottom of the range and the top of the range are very clear, and it recently got rejected from an important resistance level, which means that it is likely to continue its way down until it reaches the next LT support level:

My plan is to hold this trade until it reaches the next LT support level (lower blue line). What is interesting about this trade is that I’m risking 1% of my account, but if the market hits my TP order, I’ll make 7.1%, sounds good doesn’t it?

Trade Safe!

Raul Lopez
Forex Course