Another hit on the trend line and down maybe?
Good mornign all, new week begins. Happy to be reporting EURAUD gave us the extra push overnight to achieve out TP zone. Price hit trend and is currently sitting in a weekly demand zone . 240 pips bagged on this trade so a good start to the week. Theres a couple of trade idea’s ive got for this pair. One is a reversal from this demand area. We could easily push up from here but still in a downtrend so wait for daily close on that one. Ideally a drop through demand will clear space for a further push south. So sell on the re-test of that break. price could squeeze in this corner so trade the winning direction. GLIYF
Good afternoon, today’s pair is EURAUD . Looking to literally buy as I write now. Price has penetrated the demand zone , with that now broken we can make room for a move lower. Plus its also broker the long standing trend line and currently retesting that break. Couple of good confluences for the trade idea. Look for the reversal signs on lower timeframes and then enter. Will update in a few days. GLIYF
Todays write up is more of a lesson into why we wait for confirmation to enter our positions and why to not just enter blindly because it looks like a good setup.
Last time we looked at EURAUD price had penetrated the demand zone and broker through the trend line . It was looking like a perfect break and retest and i was literally about to place a sell order. But price just kept on going up so invalidated the trade. As we can see it went up and respected the down trend. So now the same trade setups are still my same idea’s. But I think it might be best to see where price goes out from this big wedge formation its being squeezed into. Patience will pay on this one . GLIYF
Afternoon all, EURAUD has now been squeezed into a corner and i think the market is about to show us the direction where we will be heading next. Personally I would like to see what i reported last time, a break below and retest to sell that 300 pip gap below. But we always go with the direction the market tells us, so lets wait to see if support forms first. Either way be ready on these setup’s and trade the winning direction of the squeeze. GLIYF
Good afternoon all, looking back on the EURAUD setups today. I’ve taken the sell here from this freshly created supply zone on the daily. Last time we were looking for the break below but the demand zone held and price reacted from it. BUT it created a lower high on the bearish trend . that’s why I took the sell from here. First TP zone is the demand below. If we manage to break it this time then we can hold to the bigger longer standing demand zone below that. Moving average is giving us dynamic resistance also so nice couple of confluences. GLIYF
Good evening all, hope you’re enjoying your weekend so far. Best time to check up on our trades. EURAUD is going to plan nicely at the moment. We have dropped from supply as expected and currently 90+ pips up on this trade. Two things could happen here, break and retest of the trend, or the supply was enough to continue the bearish trend . Time to squeeze the market and see. Keep watching for now incase we need to close for profit, as always move SL to entry to make risk free. GLIYF
Good job, the picture is a little bit clustered, maybe you should put less trading ideas in one picture, it should be easier for you and for us to interpret it. Otherwise good job, hope you’ll profit from that idea.
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Good morning all. New week has already begun and EURAUD has been kind to us and moved in our desired direction since entry. Price currently sits at the bottom of this wedge and i’m going to call TP here at just over 160 pips. Just because its at a junction of confluences here, with the long trend line , the small wedge , and the demand zone . I’m still looking for the break and re-test below so keep your eyes out once we break out of this wedge . Have a good week all GLIYF
Good morning all, hope everyone’s having a good Easter weekend. Marking up EURAUD today, last time i called TP on this positions for 160+ pips which was the correct decision in the end as price respected the bottom of the flag. As we can see we are now getting squeezed into a corner. Classic way to show us which way to trade next. I have marked up my two ideal trade setups for which I would like to enter with. The break up or break down, buy or sell on the re-test. Fairly easy trades to take so mark your charts and wait for price to come to you. GLIYF
Watching closely for the break out this week
Last time I looked at EURAUD we was waiting for a breakout of the flag. We got a big breakout to the topside. We have had a retest of the break and the current candle is consolidating. So I am looking at a buy option here. I would like to see price close above the moving average as its starting to turn to the upside. If support is found here on the lower time frames then I will take the buy from here up to the supply zone above. GLIYF
Looking back on EURAUD again today. Price has been consolidating virtually sideways for a good number of weeks now with no real direction, you can see this as the moving average is just horizontal. Looks to be setting up for the next impulsive direction. Again i’m using the technique of trapping the market into a corner to give us an indication of direction. Keep your charts marked up and trade the winning direction. Should be an easy trade to take on the retest of the break. GLIYF
Good evening all. Just a quick update on EURAUD . We were waiting for price to give us a direction for the next possible trade. This is an example why we wait for confirmation’s. It looked as though we were about to get a downside breakout, But price had other ideas, looks to be a fake break out and now the daily candle has shot right back up. Again the setups are still valid but wait for the close above or below and retest then take the trade in that direction. Will keep an eye on this and update once a trade is taken. GLIYF
Good morning all, update today on the EURAUD setups I sent out. Last time we got a fake breakout to the bottom, then price pushed right back up. Well it gave us what we were after, a breakout above and retest, giving us a chance to enter, it was literally to the pip of my arrow that’s been drawn out for a while now. Should of been an easy trade for you all to take. Currently 140 pips up on this position and price is moving well towards our TP projection zone. Move SL into some profits as always. GLIYF
Great analysis undoubtedly! I also used the same and got lucky to bag some nice pips. I have considered retesting the broken support and resistance but I am afraid, I don’t want to ruin the analysis because it is already doing great and I am getting great results.
Good afternoon all, I am away on a break currently so only intermittently updating on the trading for you all. Today checking in on the EURAUD setup we took. Last out we was 140 pips in profit, but today we are 235 pips up on this position. It looks like we could reach our projected TP zone. So keep moving stop loss into more profit as this is a supply zone and we could see a considerable drop from up here. I have moved mine into 190 pips profit and set my TP so what ever comes first will be. GLIYF
Good morning all, checking back in on the EURAUD buy we took a short while back. We got the lovely breakout and retest upwards on this pair. Since then we have had movement in our desired direction, but also recently sideways movement. Price has almost hit our TP level but just not quite yet. Currently we are 177 pips up on this position and i would like to see TP hit this week, we can see price respecting the moving average perfectly trending upwards so its a possibility it might hit soon. Hold for now GLIYF
Good afternoon all, today it’s nice to report the TP zone on EURAUD has finally been hit. On most of the pairs I watch and trade there has been a lot of sideways movement recently. Even a couple of days ago this pair gave us a fright and dropped down to entry zone so its possible some of you may have got stopped out if you moved your stop loss to entry or profits. But it was quick and the daily candle wicked right out to form a hammer . Then low and behold we got the push to our projected TP zone, so 300 pips hit on that trade setup. I will have a look at the charts over the weekend and provide the next setup im looking at for this pair. GLIYF
Good evening all, markets are open again soon. I think I will buy here at this daily Candle opening when the pips have settled down to an acceptable gap. The bull trend on this pair has gone quite nicely over past few weeks. We have what looks to be a nice bit of support found at the demand zone and looking for further movement to the upside. Hopefully it should play out nice and simply. Will update again in a few days. GLIYF
