Short EURAUD @1.46416 Stop @1.46877 Target @1.4490
EURAUD short a bit risky!! Risk reward is okay for me!
- Wait for price to break out of support zone - Look for a pullback to the previous support - When a reversal pattern occurs, sell it! (Last kiss trade)
Chart is self-explanatory... What Do You Think? ANYTHING CAN HAPPEN!
On weekly chart you can see there being lower highs made. It is barely making lower lows but its pushing for it. Price hit the trend-line which is also a major support due to history marked in teal color. Looking at the daily it is shown to be a nice down trend making LL and LH. My bias for this week is bearish for the EURAUD. So lets look at the 4H chart to...
FX:EURAUD Short on Weekly Chart StochRSI Over Baught Price Below down trend Possible Descending Triangle in Development .382 Retracement of the Down AB Swing I will got to Lower time frame to place sell trade later on!
$EURAUD is facing two scenario's. If it makes a new high, we will be looking at the 5' as a potential target and an exit at the Geo Off-Set Rule. If it starts to decline and breaks the 2-4 line I would look for an exit at the 1-4 line. Wait for a sell setup before entering the trade. For more lessons on the Geo Off-Set Rule please visit: www.tradingview.com
Still looking at a bearish move down futher towards the 1.48697 area
FX:EURAUD Double top; Broken Neck; Retracement; (we need a 618) We have them all, double top followed by a broken neck , found some support @1.444$ and a pullback ... Now, we have a strong pressure zone @ previous "Neck" price zone (aka resistance) , and IF we get the 61.8% retracement, i will search for eventual short opportunity; Also a eventual ABCD...
FX:EURAUD Safe Trades;
Price @ 1.54895 - Monthly Major Support Down Trend from recent Swing High/ 3rd point of touch on the down trend line .50 Retracement of Down AB Swing Stop 15 Pip of recent high and Take Profit 0.618 Fib Level of last up AB Swing Stop 181 Pips Take Profit 294 Pips