Good morning all, finishing the week reporting a SL hit on EURAUD . After the lower high was created last post I ended up moving my SL to 1:1 R:R as instructed last time. This again shows why we do this along the way as EUR gained a great amount of strength and as we can see pushed right to the upside. Price has touched the supply zone above and seems to be stalling. We could possibly sell from here but I think I will wait to see the breakout direction before I enter again on this pair. Hopefully you secured some profits too and we can wait for the next position. Will update again when its significant GLIYF
Farm Yard Forex
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I would be looking for the gap on the large bullish candle to be at least partially filled and then a continuation to the upside.
Good morning all, new trading week begins. Have a possible trade for EURAUD today. As we can see from cornering the market last week we have got a breakout in price to the upside. It's a pity we didn't hold the original buy from the demand zone right at the bottom, which is what i usually do. but I thought the bearish momentum would continue. Never the less we have a possible buy setup here, i would like to see price fall back a little and test the breakout giving us an entry to go long. Watch for support to form over the next couple of days, if we get a nice doji or 50% candle we can look to enter. Should be easy to take. GLIYF
Farm Yard Forex
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I like the look of this retracement followed by a completion of the buy model and swiping of the high.
Good morning all, couple of idea's today for EURAUD . Last time out i was looking for a buy at the demand zone , but price dropped right through breaking the zone. For the next position I think I will wait for the break out of this wedge formation. Let price show us the next direction as it has been choppy this pair of late. With Christmas coming up I like to take a week off to relax so will most likely place a longer term smaller position to let run through the Xmas period. Therefore it is a good idea to get the direction of the move first. Mark up your charts and wait for price to show us the way first. GLIYF
S
Smith2525
It looks like we have broken this triangle to the upside now, but we haven't moved too far....
Also keen for the new road map
Also keen for the new road map
Good morning all. Hope everyone had a good trading week last week. I struggled again last week I am not ashamed to say I hit 2x SL's, but have one trade still running in profit. It was a crazy week which saw big moves with GBP and EUR news, also the NFP Friday caused some movements for the USD also.
Onto EURAUD trader setup, initially I was looking for some upwards movement to confirm that trend but with the news we broke above that. Friday also saw continuation, but we now find price has rejected inside this supply zone . So come Monday I will most likely take a sell here for a repeat of what has happened to the left of the chart. First target I will be aiming for that imbalanced candle. Then depending of price movement we could hold longer for a possible visit to the demand zone below. Easy setup to take so get ready for market open next week. GLIYF
Onto EURAUD trader setup, initially I was looking for some upwards movement to confirm that trend but with the news we broke above that. Friday also saw continuation, but we now find price has rejected inside this supply zone . So come Monday I will most likely take a sell here for a repeat of what has happened to the left of the chart. First target I will be aiming for that imbalanced candle. Then depending of price movement we could hold longer for a possible visit to the demand zone below. Easy setup to take so get ready for market open next week. GLIYF
The resistance looks very strong. The price had a strong rejection earlier around that level. Thus, a bearish reversal pattern may attract the sellers to go short in the pair. I am going to keep an eye on this to go short as well. Thanks for sharing the chart.
Good morning, just updating on the EURAUD setup I gave out on Saturday. As advised I sold on candle open, then we had very minimal drawdown before we saw price drop back from the supply zone . We have peaked at 170 pips in profit and from the SL zone almost giving us 1:3 R:R already. So as always advised move your SL to slightly in profits to secure the trade and lets watch and see how it plays out over the next few days. Easy trade this one hope you caught it also. GLIYF
Good afternoon all, Little update today on our EURAUD sell position. After the last update on this pair price has continued to move in our direction. The daily imbalance has been filled and our TP1 has been achieved. Peaked at 340 pips for a return of 1:6 R:R. IF you had a hard TP set then enjoy the profits, I personally just closed half of my position and I am letting the rest run to try and achieve TP2. We need price to make a lower high here over the next few days for continuation to the south. So keep holding for now if you're waiting for a possible TP2. Will update again next week GLIYF
Good morning all, today's update is EURAUD . price has continued to move in our desired direction. We are trading below the moving average, and also below the weekly trend line . We have peaked at 420 pips and currently sit at 395 pips which is almost 1:9 R:R. We are still looking bearish on this move, mostly due to AUD strength against the EUR. We may see the EUR gain strength soon so if you wish to take profits now then I would advise to do so. If you want to hold for TP2 make sure to lock in a heavy number of pips. Will update again next week. GLIYF
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