Nicely done. If you let me guess, I assume the support zone may push the price towards the North. The risk-rewards looks good too. On the other hand, if the price makes a bearish breakout followed by confirmation, the sellers obviously drive the price towards the South. Let us wait and what what happens next.
Good morning all, reporting a stop loss hit this morning. I entered a buy on EURAUD after we got a daily doji on the demand zone like usual, but this pair had other idea’s. The next daily candle kept dropping and took my 1% with it. But that’s ok we cant win them all. What’s next? Well it looks like we can look for a sell, so the ideal situation would be that we get a retest of the broken demand and trend line . If we get a pullback up to the supply zone that broke the demand we could try and get a sell in. Looking to target the long weekly trend line below. Lets hope we get that pullback so we can enjoy the ride. GLIYF
Never mind, only 1% so quite painless…
The price keeps going towards the South. It may not make a bearish correction up to the broken trendline’s resistance. Minor time frames traders may find some short opportunities here. Traders on the daily time frame may have to wait more to find trading opportunities in this pair.
Looks like a direct sell would be a profit trade already.
Not hanging about last week, will reassess this one when markets open.
I think it may be a shorter timeframe opportunity this week.
1.56206 is my area of interest to short from with a strong resistance level
Good morning all. EURAUD is the pair were looking at today. We have seen a sharp fall in price over the last few weeks. It was expected to visit the demand zone after the trend breaks, but I was looking for a pullback to join the selling off. But we didn’t get that so now it may be time to get a buy in from this demand zone that we have had many of good trades off previously to the left if you remember. This is a good price reaction area. WAIT for reversal signs on lower time frame before entering. As its possible we may be going lower long term, id say depending what happens at this demand zone now. Aiming for the broken long term trend line at 1:5 R:R Mark up your charts and wait before entering GLIYF
Are you going to wait for a Double Bottom here? The price has been bearish for a long time. I may go long if the pair produces a Double Bottom and makes a breakout at the neckline.
Has made a nice bounce there, but think it will head back down
I agree on the direction. Price has risen but failed to close above the swing high of 22/10. EUR is weaker than AUD (and always has been and always will be?). I have a sell order pending this pair.
However, I suspect the move won’t be great. AUD is weakening. This is confirmed by NZD, often a pointer of AUD’s future direction. I think my sell will trigger but it won’t go far before I give up.
Good afternoon all, last time on EURAUD I posted a buy from the demand zone , but I didn’t end up taking it as I wasn’t watching this pair recently. It wasn’t an ideal trade for me as the indecision candles were formed a little higher from the demand zone . But you could of got in after the deep dip into it.
Never the less I was only buying a pullback on the break of trend, as I believe we will see another drop. So I will be selling if this candle closes as a <50% candle. First target is back down at the demand for a 1:5+ R:R. Stop loss above previous high candle. Should be fairly easy trade this. GLIYF
Did you sell then?
Good morning all, update today on EURAUD . I gave the sell setup out 5 days or so ago now and as selling on the daily close. We got the candle we wanted to the sell was placed. Very easy trade to take if you saw my last post. 1:6 RR trade on offer, currently we are 246 pips in profit on this position which in itself is 1:5 R:R. Super quick trade so far this has been. I hope you all managed to tag along with me, it’s up to you no wether you close some of your position or move your SL into profits and let the rest of the trade run its course, I think we will certainly be visiting the demand below. Keep holding for now and make sure to secure your bag. GLIYF
A good looking bearish engulfing candle right at the resistance level has been driving the price towards the last swing low. The price seems to be in a hurry to hit your TP as well. Thanks for sharing the chart.
Will keep falling beyond your TP I reckon. EUR struggling all over at them moment
I can see a continuation here. EUR is in real trouble.
not a pair i trade a lot looking to add a few more to my options would you say this pair moves more in London then Asian sessions? just dont want to be caught out when i am asleep. EUR failing with strength at the moment could be as covid cases are on the rise.
Good morning all, good beginning to the week for our EURAUD trade. Price has respected the trend line and we continue on our bearish move. We have uniform movement with lower high’s and lower low’s. Hopefully now we might get a lower low and possibly reach TP zone below at the demand area. We have peaked at 245 pips but currently sit at 160. You could move your SL to just above the lower high to secure some profit along the way. Keep holding for now until the next update. GLIYF
Looks to be going in the right direction still. Easy trade