Good morning all, Just a quick check back up on our EURAUD buy today. We are currently 126 pips in profit on this trade. The bullish trend continues from our original buy further below. The current daily candle looks strong so it looks like we could hit our projected TP zone. I may close earlier than the end of the green TP zone as it may meet the supply zone and reverse, but I will be watching and will update in a couple of days or so. GLIYF
Good morning all, this morning I am going to close my buy position on EURAUD . Due to the fact it was a fairly quick intraday trade and not as big as a normal trade that we take. Its nice to take profits as much as you can so i’m calling the TP zone hit here as price sits in this supply zone . But we have another setup lined up and a very easy one to take if this bull run is to continue. Let price break the supply zone and buy above on the retest. nice and simple. Enjoy the profits for now and let the next trade come to us. GLIYF
Good evening all, back on EURAUD again. Last post I said to close out the long position as it was slowing in the supply zone . What a great decision it was as we can see rice has fallen right back to our original entry zone (1). But with price doing that it has presented another trading opportunity to us with virtually the same trade, why cant we take it again (2). It seems like a range was formed and I don’t see why we can’t push back up to the supply zone . so if today’s candle holds then I will be entering again with another buy back up to supply. Fairly easy one to take GLIYF
Good afternoon, always nice to report a TP zone hit. We have profited from some great trades on EURAUD recently and the winning streak continues. After taking profit from supply zone last trade, we entered again when price came back to demand, it also got very close to our SL, but the moving average provided great support as you can see. None the less TP has been smashed with another 245 pips bagged with 1:2.6 R:R. But where next? Same again AUD looks weak in trend currently so if we get a pullback to the broken supply zone then ill look to buy again up to the top supply zone . Mark your charts and wait for price to come to you. Enjoy the profits for now GLIYF
Good evening all. Tonight im reporting back on a SL hit on EURAUD . We have had many good trades back to back on this pair recently. This is another reason why we use risk management and stick to our plan. Only 2% lost on the SL and we move onto the next setup. Obviously you saw i was looking to buy the step up on this bull run, but it looks to of been the top, possibly. We have seen a sharp fall in the last couple of weeks and price is in an area of interest now at the trend line and demand area. If we hold here we could buy again as we will not of made a lower low. If not and we drop through then I would try a possible sell idea. Mark up your charts and watch price action for an entry. GLIYF
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The level looked good to go long. However, it did not hold the price. The next level looks even stronger. If the price produces a strong bullish reversal candle at the dynamic level of support, the buyers may push the price towards the level of 1.61400.
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Enjoying your inputs a lot - especially on EUR pairs.
Do you think 1.1614 could hold or would you anticipate the start of a descending channel?
I would bet on the bearish scenario here.
My prediction is bounce to the upside from the trendline. Continued lockdowns in Australia could push them further into recession as Europe continues to recover…
Good evening all. Last time out on EURAUD I hit a SL, but also gave out a couple of options to buy from the demand area, or sell if we broke below. Well price found plenty of support in the demand area and there was a perfect opportunity to buy with the daily doji . I didn’t take this one but if you caught it you will be 170+ pips in profit and well over 1:2 R:R almost at 3. I would advise to take profits here as we may fall from this supply zone . Id like price to fall back and buy from that demand area again with the confluence of the trend line . Or price may continue bullish then we can look to buy on the break above if we break supply zone . Mark up and watch over the next couple of days to see what’s to come. GLIYF
I traded this from 50 EMA rejections, for a 1:2 RR and taken profit, so clean slate this week to see how it sets-up again
AUD weakness will prevail
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Good evening everyone. Checking back on EURAUD today and last time out there was a possible buy given out and happy to report TP has been hit at a R:R of 1:4. Now we are looking for the same again. Price has also moved back down the demand zone where I wanted to buy from to coincide with the trend line to give us multiple confluences. Will watch todays candle close and see if there is any signs of a reversal and buy from this demand zone to go back up to that supply zone . Should be a fairly easy one to take so keep your eyes out over the next day or so for an entry. GLIYF
Looks to be setting up nicely for another buy
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
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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.
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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.