EURAUD, Long Opportunity - 1:10

FX:EURAUD   Euro / Australian Dollar
Goood morning traders,

After FOMC yesterday, setups are forming everywhere. We got a huge short on USDJPY and EURJPY as well as a long on USDCAD . As they've already moved, there's no point in me posting a chart analysis on that.

However, EURAUD is yet to move. EURAUD has traded down into a H4 Bullish Orderblock. The orderflow is currently bullish . I'm anticipating a reversal off this area or perhaps 30-40 pips below this area, this is my first area of entry however.

Price created a bullish break of market structure followed by a retracement back into a 5 Minute Bullish OrderBlock.

I'm looking to trade price back to refill the imbalance in the market place where the take profit is situated.

This trade yields a risk to reward of 1:10.

Best of luck.

Happy Trading.
Trade active
Comment: Stop moved to breakeven.
Trade closed: target reached: Solid trade: Entry point on this chart yielded 1:10, for a +10% return. I personally took the setup on the 5 min chart so hit 1:16 for 16% return. Not bad at all.


+1 Reply
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