This thread will be for posting charts of potential idea setups in forex. Please include a chart and your reasoning.
I was watching that pair, read your post, went back, and the pair had dropped 60 pips. Either I read at a 2nd grade level, or...... Sorry, that got away from the thread theme. I agree with the idea, drop on EUR/AUD. Possible target below 1.900?
Haha, the pair is extremely volatile which is a blessing and a curse. My ST target is 1.95. Updated chart below. We need that line to break on the close (2hr candles).
The spread is horrible. The key is to take trades you're confident in and that have small stops (so you know you're wrong quickly). EURAUD moves so much so fast that the spread hurts a little but not enough to be a detriment. I don't trade this for less than an expected 100+ pip move.
yea I get it at about 10ish...you got me looking at it now!!!! have you ever looked at EUR/JPY, GBP/JPY, GBP/AUD...same kind of deal...trade in long ranges...
I've looked at GBPJPY due to Forex4Noobs.com. They've got an ebook I read (pretty good info) and if I remember correctly they focus on GBPJPY. Haven't looked at the others yet - there's been enough opportunities in GBPUSD, EURAUD, EURUSD, USDCAD to keep me busy. **Trade Update** EURAUD Expecting a run up toward resistance and then a steep decline. Shorted more @ 1.9780 and 1.9752