After being stopped out at breakeven on my last EURUAD trade I am now looking for a second entry.
The bearish 4hr trendline has been broken and today a higher high was made on the 4hr. I am now looking for a long trade on the next higher low to take advantage of this new trend.
All analysis is marked on the chart and my entry is going to be around 1.57650 if...
I shared this trade with my premium group last week and we are currently holding this on a long term buy.
I'm hoping to reach the TP zones highlighted, however a pull back would mean a re-entry for me on this pair.
Trade safe and good luck.
Simple trendline break and retest trade set up.
The trendline is more accurate on the 1hr timeframe but its easier to see and enter on the 4hr.
Trendline broken.
4hr rejection of Fib 0.618
Rejection of broken TL
Targeting the Fib 1.618 extension level first.
2nd Target is 1.60600 resistance zone.
Here we have had a strong break down from the EA daily/h4 ascending channel. Textbook price action in this case is a retest of trend line or resistance zone before entering sells. We can have high confidence in this set up, especially because the daily and h4 both broke a lot of market structure on the initial break down. As the chart pattern is high time frame, I...
Our trade on EUR/AUD on the 4H time frame took profit today with all three targets smashed.
TP 1: +27
TP 2: +54
TP 3: +108
TOTAL +189
Our team are now eyeing up the pair and waiting for confirmation for a short term bearish move. If the confirmation comes then we short, if it doesn't, then we continue to analyse until we see the banks make their move.
Keep...
EURAUD has entered a strong buy zone on the Daily timeframe, where it's broken out the falling wedge on the 1H and 4H and M30 timeframe. Looking to ride this position long
FORMED A WEDGE AND WE ARE CURRENTLY IN A BEARISH MOMENTUM
I WOULD LIKE TO COME TO COME TO THE PREVIOUS SUPPORT ZONE WHICH WILL NOW BE THE BUY ZONE
ONCE WE REACH THIS ZONE I DO EXPECT THE BEARISH TREND TO COME TO AN END AND START SHOWING SIGN OF DOJI/HAMMER CANDLESTICKS READY FOR A BULL RUN
IF WE DO NOT TOUCH THE BUY ZONE I WONT BE LOOKING TO TAKE THIS TRADE
EURAUD Long Update +120 pips LOTS More , as previously posted I shall give an Update on our EURAUD Long position .
Currently +120 pips with another +200 pips firmly in its sights @ 1.600 which we shall then look @ scaling trade down .
Mixed bag for AUD and Top German figures out today , only to see the EUROZONE Discredit their own figures among st themselves...
The Euro vs. the Australian Dollar. This pair is considered to be a great barometer for global risk. In 2012, during the European sovereign debt crisis the EURAUD reached its low. Since then, due to the European Central Bank’s policy of Outright Monetary Transactions (OTM or the “whatever it takes” measure ) the pair has recovered substantially.
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