Can this trade on EURAUD 4H be considered??? Your comments will really help, Thanks
Hi Wafik
Itâs a calculated risk.
From my Pepperstone charts, EURNZD has never been this low before (checked weekly/monthly).
The two things in my mind w.r.t this are:
- Price likes to retrace/pull-back to prior S/R zones before continuing with a trend
- The BUEB was really big
Counter-trend trades are risky, but can be worthwhile, IMO (make money on the way up and on the way down)
Cheers!
Hi Dudest,
I truely see all your points, the BUEB was really big but still is a risky counter- trend trade. Thanks for your clarification which certainly helps me.
Good luck
But the daily candle hasnât yet closed bro 
what if it turns against you when NY opens?
What trade? Price is not yet at your S/R zone (assuming thatâs what the red line is)âŚ
Yes Dudest, the red line is what I have considered as S/R level, was I wrong again!!! perhapes I was forcing a trade that isnât there !! ATTACH=CONFIG]29616[/ATTACH]
Iâm looking at the EurAud too wafikjabra, and it looks to me like it is getting ready to go further down.
This pair is nearly at all time lows, so there is not alot of previous S/R to go on, but the price is sitting around the previous swing high, and on my charts has a big (for this pair) pin bar sitting across that S/R level. (at 1.18144)
Iâm expecting a final swing up before making a move down, and I wonât be entering a trade till it breaks lower than the recent ranging (at 1.17900)
Bear in mind I am no expert, and certainly donât make your decision to trade or not trade on what I say, but thought i would add my 2 cents to the discussion 
Merc
Hei dudest!
Did u end up taking the trade? IMO, it was trading straight in to the support level.
Richard
Hi Mercurio,
Thanks for your comments, It is always nice to share our thoughts⌠it certainly adds to my education. We will follow this pair & see what happens.
Cheers
Not for me, PB is too small compairing to previous bullish bars and if I traided H1 TF, I would like to see much, much bigger PA signal.
Safe trading,
Richard
Hi Wafik,
More or less it looks like BEEB. I would be careful about the break and the choppiness behind. Please see the image attached. Are you using NY close charts as the candles are different on mine. You will see the red line are might act as support and price may halt there. Just my 2 centsâŚ
Anyone losing money this week?
Watch out for Gbpnzd and eurnzd
Hello Hemantarora,
Yes, I agree with you, it looks a bit weak. It sure helps to understand these weaknesses to avoid bad setups. Thanks for your thoughts,
By the way I am using same chart, it might look a bit different due to nature & scale of photo.
Take a look at D1 - If the trend wont change the direction /stay more angled/ there is a chance for a few 00âs pips.
If flattens outâŚ
I reedited this post, took a better look, we are approaching quite significant support there. No good.
