FX.co ★ vbahringer | EUR/AUD

Currency pair - EURAUD. When viewing the M30 chart of the EURAUD currency pair, I decide to trade short. For the target level as take profit, I want to use 1.63510, which corresponds to the lower boundary of the LRMA BB indicator. The seller is pressing the market and his efforts are showing a result in the form of a downward trend. Thanks to these efforts, the current price of 1.63550 is trading below the moving average price of 1.63575. If, with increasing volatility, the price can move below the lower boundary of 1.63510, then the selling phase will be considered complete and I will look at buying towards a correction to the middle of the range at 1.63575. If the price breaks upward through 1.63575, a decision will be made to reverse positions and open a long towards the upper level of the LRMA BB indicator at 1.63639.