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.
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.
