Removing some of the risk might be good at this stage though the EUR is so weak I actually expect a new low to form. Still bearish for now.
Good morning all, finishing the week reporting a SL hit on EURAUD . After the lower high was created last post I ended up moving my SL to 1:1 R:R as instructed last time. This again shows why we do this along the way as EUR gained a great amount of strength and as we can see pushed right to the upside. Price has touched the supply zone above and seems to be stalling. We could possibly sell from here but I think I will wait to see the breakout direction before I enter again on this pair. Hopefully you secured some profits too and we can wait for the next position. Will update again when its significant GLIYF
Good morning all, new trading week begins. Have a possible trade for EURAUD today. As we can see from cornering the market last week we have got a breakout in price to the upside. It's a pity we didn't hold the original buy from the demand zone right at the bottom, which is what i usually do. but I thought the bearish momentum would continue. Never the less we have a possible buy setup here, i would like to see price fall back a little and test the breakout giving us an entry to go long. Watch for support to form over the next couple of days, if we get a nice doji or 50% candle we can look to enter. Should be easy to take. GLIYF
Every trade is risk free until it goes against you. I am sick and tired of hearing this term..."risk-free".
Good morning all, couple of idea's today for EURAUD . Last time out i was looking for a buy at the demand zone , but price dropped right through breaking the zone. For the next position I think I will wait for the break out of this wedge formation. Let price show us the next direction as it has been choppy this pair of late. With Christmas coming up I like to take a week off to relax so will most likely place a longer term smaller position to let run through the Xmas period. Therefore it is a good idea to get the direction of the move first. Mark up your charts and wait for price to show us the way first. GLIYF