My Daily Trades

Trading Tech and Tools
1

How I take long on EURAUD today ?

My chart analyzing platform is tradingview web site. I am using 5 minutes charts for day trading. Every day when I open the chart, I mark the HPD, LPD and draw the Fibonacci lines between those lines.

There are two reasons I select the candle which was formed at 1.45 to take long trade.

  1. Candles are above the 200 MA, so it overall in a bullish mode.
  2. The candle which formed at 1.45 (I am using New York time on my tradingview account) it breaks the previous support.

I took long trade after closing that candle at 1.45 and target it next fibonacci level above the HPD. See the below image.

EURAUD-Bullish 3-1 - 15-03-2021
EURAUD-Bullish 3-1 - 15-03-20211019×699 143 KB

2

High prices and low prices are not the same as swing highs or lows - but hey if this works for you then great keep it up!

3

I think you’re going good so far. Just wait for a few days to see how it works.