EURAUD – Short Term Sell Opportunity

EURAUD is clearly in the middle of a downtrend. Its now forming a clear 3-touch expanding structure with the last leg appear to be a false break to grab liquidity (catching people on the wrong sidee of the market). After breking outside of the structure, its completely retrace back into the structure and forming a bearish continuation structure.

I’m not setting a stop order at the break of this bearish cont. flag, targetting to at leash the bottom of this expanding structure with more target to the downside that is still need to be seen on how the price behave and develop at that area.

One thing to take note is i just view this trade as a short term trade opportunity, so we must be more careful with this position, as I’m expecting a broad weakness across all AUD and NZD pairs to play out in the long term.

For now, let’s see how will this pair develop, good luck..
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Here is the MOA FX technical analysis, please comment below if you have any question.

The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.
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Trade active

Comment:

0.8%++ running,move sl to 1.57600 to minimize risk

Trade closed manually:

I got tagged out from this trade at BEP. I'm too late too update here to move sl to BEP.

Price seems to be forming a more complex structure for now, so will wait for the picture to get clearer first before deciding to enter again..