Good Morning all happy to report today TP2 has been hit on EURAUD . We are 10 pips from the actual zone but sometimes its best to call it slightly before the TP zone. We have seen big bearish action from this pair recently which has helped us achieve 530 pips for a return of over 1:10. Now is the time to take full profits and wait for the next setup. Which could be from this demand zone we find price currently at, OR the bigger demand zone below. For now I will wait to hope fully see the big demand below, plenty of profit for us to take time out to wait for the next setup on this pair. If you're eager to trade then watch if support forms on this demand zone for a small buy. Enjoy the pips all GLIYF
Farm Yard Forex
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Lovely result. A 10R result is your month sorted! I feel that the momentum of this downward move and relative depth of retracement to the preceding upswing lead me to be less confident in the daily demand you have there. Add to that I think the lows highlighted by your trend line represent easy liquidity swipes I would favour the weekly demand zone.
Jungletrader
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Awesome result my man 💪
Looking towards your Weekly Demand Zone for the next potential pushup
Looking towards your Weekly Demand Zone for the next potential pushup
THE ONE THAT RAN AWAY! Good morning all, today's update is more of a lesson as to why it is good to just leave some of your original position to run or come back to hit your SL (which would be in profit anyway). Usually I always leave a runner but we had such strong movement on EURAUD I was expecting a pullback in price, so I took the whole profit at TP2. Well this was a kick in the butt, as you can see the EUR has died! Price has continued in our direction and is currently 1131 PIPS IN PROFIT! That's a 1:20 R:R return from our original entry. Crazy movement, we earnt good returns from this trade but ALSO learnt a good lesson too. There doesn't even look like there could be somewhere we could join in this trend. Demand was broken and looks like we will be visiting weekly demand zone below. Will recap it again next week sometime and see how price has played out.
Farm Yard Forex
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I expected the lows to get cleared out marked out by your trend line and new low to form but it's just blazed well below what would be considered a stop hunt. AUD on an absolute tear right now.
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Smith2525
Wow, it really did fall off the cliff there didn't it! What is giving AUD so much power?
Good morning all, having a look back on EURAUD again today. It has been the biggest mover for us of late so keeping in touch with the movements we are looking at a possible setup again. A good few of the EUR pairs have hit big area's of demand, as you can see on the 1D chart on the left it touched into the weekly demand zone and wicked right out, showing big buying pressure. just because price is bearish and has been very bearish recently doesn't mean it has to keep moving down forever, price has to reverse at some point, and that big demand zone is as good as any. We have a lot of imbalance left behind on the daily TF due to the quick moves down recently so plenty of targets to aim for to be filled. So im going to go out on a limb and look for a buy back up around here if todays daily candle finishes as a <50% candle, then ill enter. WE have had plenty of returns off this pair recently so can afford to take this possibility. GLIYF
The marked zone is a weekly support. It may hold the price and push the price towards the North. However, considering the last bearish move, it may take some time to get bullish in the daily chart. Thanks for sharing your trading ideas.
Farm Yard Forex
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Your long is going well so far. We could be approaching an area of mitigation around the 1.54 level. Above that I'd like to see the void filled between 1.552 and 1.557
Really was a huge drop!
As I said on my last message that it may take some time to get bullish in the daily chart. The price after being bullish for a while, it has been bearish. The price where it had a bounce last time may work as a level of support again. If the level holds the price and produces a bullish reversal pattern, the buyers may go long in the pair. A bearish breakout at the support may drive the price towards the South further though.
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Smith2525
Would also love to see the updated forecast on this pair (it's one of my favorites)
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