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Here we can see GN is hovering around this level of support where we can clearly see price rejects off it. We should see a bit more movement down to this support and the we can look to get into a buy position and hold this trade out.
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Here we have a. lovely area of structure that you can clearly see whenever price pushes down into it it reject's it like trump was rejected from the office.
If we see price back into this area we'll look to get into a buying position.
Here we can see a nice break of the bullish trend and price has found support here. adding in a fib we can see if we get the drawback we expect we'll have 3 confluences to get into a short term sell position. 50% fib, structure just above this fib level and a retest of the bullish trend.
let's be patient and see how we get on
As you can see from the chart we have taken a nice buy position on this pair. We have the bearish trend which has been respected for some time now on the higher timeframes. This broke out and it was a matter of time before we saw some action to get involved in the next trade. We can see on the lower 1hr timeframe we have created a nice little bullish trend which...
EURAUD didn't quite reach our previous buy limit annoyingly as it has flown since our last analysis! but that's forex so don't just trade because you've missed out be patient. We can now see a slight retracement on the pair allowing us to get into a short term buy. A little lower than the 50% fib we can see a nice support level that we can use as our next level of...