Morning everyone, looking back on EURAUD today and something comes to mind that we could see some strength short term in the Ozzie dollar. With china coming back into full production this could prove to be helpful to AUD, as they are one of their biggest exporters. Yesterday we saw the biggest unemployment claims in the US, currently the dollar is falling. AUDUSD is having a nice climb upwards, and were seeing some bearish action on EURAUD . I think we could possibly see some bearish action back towards the .618 Fib If you get in now use good risk management, or wait for a drop below the support and sell on the retest. tight stops possible for a good R:R of 1:6.46 . GLIYF
Looking back at euraud today. Currently EUR has been weak across the board. Also AUD has gained a little strength. I hope you guys are still in sells from that previous resistance. Hold it down the support level it chooses next. Could be the round number of 1.7 or the .618 fib level. I think thats where the next buy opportunity will be. But for now keep holding the sells for a nice medium term trade. GLIYF
Well i got the level right on EURAUD for the TP. but my magic circle was a little behind the time. AUD has seen some weakness today, naturally as it has been so strong lately. So we are seeing a retrace in price on EURAUD . i think we could pullback to the small supply zone above before another push south. Good opportunity for shorts there with tight stop losses. Keep watch for that zone with the yellow circle. GLIYF
EURAUD is coming to a big area of decision of what will be the determing trend. Weve been selling from the top in multiple instances, if youve made pips along the way then congrats. My last look at this pair i was looking at price to retrace up to the supply zone but we didnt quite get there. But it did create a double top in price so im hoping some of you got onto it. The R:R was still a 1:4 if your stop loss was just above previous high on the double top . Whats next, well im looking for price to come back below the previous highs that we are used to. But will it keep tanking or will we see another buy come from EUR. doesnt look likely to me at the moment, AUD are doing well with china and the EUR is crumbling. Lets wait to see GLIYF
Looking back at EURAUD today, came down to the 4H TF to see some more current price action. Price did break below the previous low so it looks like we are retracing currently to make a lower high. Im looking to sell from the circled areas of interest and for structure to remain bearish . Other wise we might have to rethink whats the next way its going to go. New week lets be patient and see how it plays out. GLIYF
Hope everyone had a good trading week. This weekend looking at a possible EURAUD short. Havent looked at this pair for a while, but i think the time is coming for a big move in price. You can always tell by price action and the moving averages. We have had sideways movement and not been anywhere near the averages for months, its like price waits for them to catch up before making its next move. Which is what we have here, price getting squeezed, the averages have flipped and spread to signal a downtrend, so im going short on this pair for a modest 1:3 R:R down to the support level below. Enjoy the rest of your weekend see you monday. GLIYF
Over the weekend i called this setup to sell on market open. We had a little tiny bit of DD but it moved as expected. Currently we are 200+ pips in profit on this pair, it looks like we could continue towards out target. Price touched the moving averages for a rejection and it looks to be down trending now
At this point you should of moved your stop loss to entry so its a risk free trade, or if you want you could even move it into 50 pips profit to bag some pips for sure. Keep holding for now if we break slightly below this level we are at now. GLIYF
At this point you should of moved your stop loss to entry so its a risk free trade, or if you want you could even move it into 50 pips profit to bag some pips for sure. Keep holding for now if we break slightly below this level we are at now. GLIYF
Its been a while since i looked at EURAUD , Mostly because it has been moving sideways for weeks on end.
But one thing i learnt from one of my mentors was, "always try to capture the market, it will show you where it wants to go" i will always remember this and try to do this where i can n the chart. Thats what we have here and my bias is still bearish for this pair, i think its only a matter of time until it tanks. Draw out the trap an trade the winning direction. GLIYF
But one thing i learnt from one of my mentors was, "always try to capture the market, it will show you where it wants to go" i will always remember this and try to do this where i can n the chart. Thats what we have here and my bias is still bearish for this pair, i think its only a matter of time until it tanks. Draw out the trap an trade the winning direction. GLIYF
Its Fridayyyy which means the end of the trading week and time to hit the pub at the end of the day. But first were looking at EURAUD . This pair is a clear battle of two strong currencies. From my other posts we can see clearly that the EUR has been pumped hard lately, as well as we already know AUD has been tugged along with the chinese economy so we have a battle on our hands.
I think when one of these two currencies comes out the strongest we will see a nice move on this pair. Last week we saw a big move down from the top of the triangle upper trend line which looked like it would drop through but low and behold it has held inside. BUT i think its not long until we see a drop in my opinion. Remember wait for the winner to be revealed and trade that direction. Have a good weekend all. GLIYF
I think when one of these two currencies comes out the strongest we will see a nice move on this pair. Last week we saw a big move down from the top of the triangle upper trend line which looked like it would drop through but low and behold it has held inside. BUT i think its not long until we see a drop in my opinion. Remember wait for the winner to be revealed and trade that direction. Have a good weekend all. GLIYF
Looking back at EURAUD today. We got a breakout from the triangle to the upside. I actually missed this buy as i wasnt watching the pair as much. But ive got it on my watchlist for a short. Ideally i would like to see price come back up to this supply zone which is a very strong reversal area. Get the double top and sell down to the bottom of this range you can see. Fairly easy trade to take. GLIYF
Didnt quite get the clean double top i was looking for on this pair, but it entered our resistance zone and we got rejection so the trade was entered. Will be a slightly wonky M pattern double top this one. Aiming for the circled area ive marked. Currently we are 110 pips in profit on this trade so make it risk free and let it run. GLIYF
Morning all, today updating on our EURAUD sell. We are seeing bearish movements from price action with lower highs, but still only equal lows so far. We need this little support shelf to break so we can go through to our TP. Currently we are 195 pips in profits which is still a nice return. Always remember to lock profits in and dont give it back
to the market. GLIYF
Happy monday all, new week begins with an educational lesson in what can happen in the markets. Last week we were sitting heavily in 195 pips profit on EURAUD short. Then in a couple of days price came all the way back top entry, shows you what can happen in forex in a short space of time. i did advise to lock in your profits last post so if you did i imagine you got stopped out with your profits, i have marked out the point where you should iof got out with maximum profits knowing when it was going to turn against us on the hammer daily candle. Looks like a very clean W pattern you can see the harmonic points where its turned each time. i can still see it falling from here again so im holding my short bias. Have a good week all GLIYF
Another educational lesson today from EURAUD . This is the reason why we lock in profits on our positions. EUR got pumped alot recently as we saw across the board on most pairs. If you was in the sell with me price came back and shot right through our entry, but hopefully you all got out with profits as advised along the way. When i look at EURAUD i think of the average general price it trades at, 1.7 area where we are to me is a high price, only ever once before it was higher but these prices are market reactions and they soon fall back to average price areas. That's why i will only look for selling positions around these prices. It only takes one line drawn correctly where you can see it turned instantly, the resistance line i had drawn out previously price rejected from straight away, even if you sold from there you would be 220 pips up already. People trade different ways and this s the way i trade, the main thing is it catches pips and that's all we need to do. Draw out your zones and react to price action in those areas. i still think price will come down to the circled out area, i might join the ride on a price pullback. watch out for it ill update when i do. GLIYF
Looking at EURAUD today. Ive always said on this pair its higher than average price for this pair and i would always look for selling opportunities. The last time on this pair we was selling from the first sell point marked out. We made 200+ pips but then had a reversal candle formation happen so was advised to get out with profits. Even if you didnt it was risk free trade and a lesson why we lock in profits ad price turned right against us. But as you can see from the previous marked out horizontal zone price literally reversed right on point. If you caught that move you would easily returned over 500 pips in a short amount of time. Ive marked the zone above where i would like to sell, also if it breaks below and retests then there is a big space to a weekly trend below to sell to. All in all look for nice pullbacks to supply zones and watch for resistance to form GLIYF
Last time i looked at EURAUD i gave out acouple of sell zones i was interested in. It was literally pinpoint bar a few pips, just check the entry on that position. Currently 179 pips in profit, but yet again we are sat at the strong support zone . So again i advise to lock in profits, dont give back to the markets and keep holding for now, if you see that reversal pattern forming then pull out as many pips as you have. GLIYF
Happy monday all. New week begins and were on EURAUD today. Last week i gave insight on how i find my setups from levels to enter or to stack. Now last time oin this pair we were sat on the support zone below. i advised if support was formed then to take profit which at the time was 180 pips is. Then what did we get a big candle right back up to entry zone, that support zone is a strong price to break up or down. But look whats happened from the same level, sold off yet again and now currently 170 pips in profit. They should be easy pips to catch if you trade intra daily. Ill say the same again on this support zone if it doesnt brake then take profits. But when it does break then we could see some real nice amount of pips. GLIYF
Todays pair is back on EURAUD . you all by now know that i like to squeeze and corner the market to give us direction. Well EA is almost about to do that for us. Currently we are 173 pips up on our sell. Again we are sitting at that strong support zone . But i have a feeling it might break this time, heres to hoping. Because if it does theres plenty of room to drop into. Firstly being our TP, then hopefully retest of the break for another sell. GLIYF
Last time we looked at EURAUD we sold from that small supply zone at 1.634. We got to 170 pips or so in profit and expected a drop through the wedge . Well the vaccine didnt give us what we wanted. As i always say if you see reversal signs happening take your profits and look to re enter. Price came back up to our entry zone so if you took profits you could of entered again and earnt twice on the same setup. Currently over 200 pips in profit. So my advice is to take profits at this support zone we are at. Then we can wait for a drop through for the next sell idea i have on this pair. GLIYF
Similar threads
