EUR/AUD Price Forecast 18th October 2024

Strategy: 3/12 Tunnel

The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%.

Recommended Timeframe

This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes.

Trade Details

Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the EUR/AUD pair within the H1 timeframe. I’ve shared a trade setup image for your reference. The details of the trade are as follows:

Pair: EUR/AUD
Timeframe: H1
Buy Stop:1.61950
Stop Loss (SL): 1.61705
Take Profit (TP) 1: 1.62275
Take Profit (TP) 2: 1.62600
Take Profit (TP) 3: 1.62930

Lot Size

For risk management, ensure you do not risk more than 2% of your account per trade. For instance, with a $10,000 account, the maximum risk should be $200.

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To Your Success!
Tim Morris