EURAUD Short - TP Hit

bax699

Well-known member
472 101
Todays chart is more of a check up on our sell trade with EURAUD . Currently over 420 pips in profit on this setup so far. Moving in the right direction, i do expect a pullback one day in the near future to create a lower high. hopefully it stays under trend and then pushes further down. Not a bad haul of pips so far so as always secure the bag. Can always re enter on pullbacks. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Well its been a week since i've looked back in on our EURAUD trade. We are currently 433 pips up on this position. Since the last post we have had price come back and make a nice Lower High. But you can see where price also reversed right on the horizontal line zone of support. So its vital that we break through this to reach TP projection. i would secure 350+ pips profit at least with your SL just incase support is strong and we get bullish movement. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Its been a couple of weeks since ive updated on EURAUD . Price is doing as expected, we bounced off the support and created a lower high. I also love how people say trend lines don't work......
Price reacted on the downtrend and the 53 ema above lovely. We are currently 400 pips in profit so if you kept holding we're about to make another push to the support zone . If you took profits or moved SL into the profits as suggested there was another easy sell from that trendline too. The TP is a big one on this trade but very rewarding. GLIYF
Screenshot_1.png
 
  • Like
Reactions: LuckyMac

LuckyMac

Member
63 18
Really nice trade this. simple and effective
Its been a couple of weeks since ive updated on EURAUD . Price is doing as expected, we bounced off the support and created a lower high. I also love how people say trend lines don't work......
Price reacted on the downtrend and the 53 ema above lovely. We are currently 400 pips in profit so if you kept holding we're about to make another push to the support zone . If you took profits or moved SL into the profits as suggested there was another easy sell from that trendline too. The TP is a big one on this trade but very rewarding. GLIYF
 

bax699

Well-known member
472 101
Today's update is on EURAUD . SInce the lower high was made we have seen great bearish action. I have changed the TP zone to the support level just below price. As it is a strong zone which has been tested twice, its wise to take our profits there. Currently 480 pips in profit on this setup so not much more movement to reach TP zone for 520 pips in total. We will watch what happens when we get there which will decide our next setup on this pair. Will update again in a few days after seeing some more price action. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Last week finished well. We got the push down on EURAUD , I am going to call TP hit here, we are 500 pips in profit so lets bank them all and close this position now and look for the next one. There's two possible trade idea's im looking at. First one is the bounce from this support zone again if it holds, this is a little more risky as price action is bearish , But its possible we could reverse here as its a strong zone. My ideal setup would be to drop through and then sell the re-test, if we get one. You could always set a sell stop just below the zone to catch it if it falls. Either way look at price action on market open then you can look to enter on monday. Have a good weekend all. GLIYF
Screenshot_01.png
 

bax699

Well-known member
472 101
Good afternoon, checking back up on EURAUD today. Last post I gave out two trade idea's for us to take. One was from the demand zone where price reversed previously, The other is what we are currently in. Price dropped through the demand area and then we got a lovely re-test. Currently sitting in 160 pips in profit. There is a big demand area below where the TP zone is. So a good place to take profit or hold to see what happens at that zone. If it breaks through that and the trend then we could see further downwards price action. Update to come next week, have a good weekend all. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Good mornign all, new week begins. Happy to be reporting EURAUD gave us the extra push overnight to achieve out TP zone. Price hit trend and is currently sitting in a weekly demand zone . 240 pips bagged on this trade so a good start to the week. Theres a couple of trade idea's ive got for this pair. One is a reversal from this demand area. We could easily push up from here but still in a downtrend so wait for daily close on that one. Ideally a drop through demand will clear space for a further push south. So sell on the re-test of that break. price could squeeze in this corner so trade the winning direction. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Good afternoon, today's pair is EURAUD . Looking to literally buy as I write now. Price has penetrated the demand zone , with that now broken we can make room for a move lower. Plus its also broker the long standing trend line and currently retesting that break. Couple of good confluences for the trade idea. Look for the reversal signs on lower timeframes and then enter. Will update in a few days. GLIYF

Screenshot_1.png
 

bax699

Well-known member
472 101
Todays write up is more of a lesson into why we wait for confirmation to enter our positions and why to not just enter blindly because it looks like a good setup.
Last time we looked at EURAUD price had penetrated the demand zone and broker through the trend line . It was looking like a perfect break and retest and i was literally about to place a sell order. But price just kept on going up so invalidated the trade. As we can see it went up and respected the down trend. So now the same trade setups are still my same idea's. But I think it might be best to see where price goes out from this big wedge formation its being squeezed into. Patience will pay on this one . GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Afternoon all, EURAUD has now been squeezed into a corner and i think the market is about to show us the direction where we will be heading next. Personally I would like to see what i reported last time, a break below and retest to sell that 300 pip gap below. But we always go with the direction the market tells us, so lets wait to see if support forms first. Either way be ready on these setup's and trade the winning direction of the squeeze. GLIYF

Screenshot_1.png
 

kumar0raja

Newbie
1 0
Over the weekend i called this setup to sell on market open. We had a little tiny bit of DD but it moved as expected. Currently we are 200+ pips in profit on this pair, it looks like we could continue towards out target. Price touched the moving averages for a rejection and it looks to be down trending now teatv app sbi hrms
 
Last edited:

bax699

Well-known member
472 101
Good afternoon all, looking back on the EURAUD setups today. I've taken the sell here from this freshly created supply zone on the daily. Last time we were looking for the break below but the demand zone held and price reacted from it. BUT it created a lower high on the bearish trend . that's why I took the sell from here. First TP zone is the demand below. If we manage to break it this time then we can hold to the bigger longer standing demand zone below that. Moving average is giving us dynamic resistance also so nice couple of confluences. GLIYF
Screenshot_1.png
 

bax699

Well-known member
472 101
Good evening all, hope you're enjoying your weekend so far. Best time to check up on our trades. EURAUD is going to plan nicely at the moment. We have dropped from supply as expected and currently 90+ pips up on this trade. Two things could happen here, break and retest of the trend, or the supply was enough to continue the bearish trend . Time to squeeze the market and see. Keep watching for now incase we need to close for profit, as always move SL to entry to make risk free. GLIYF

Screenshot_01.png
 

bax699

Well-known member
472 101
Good morning all. New week has already begun and EURAUD has been kind to us and moved in our desired direction since entry. Price currently sits at the bottom of this wedge and i'm going to call TP here at just over 160 pips. Just because its at a junction of confluences here, with the long trend line , the small wedge , and the demand zone . I'm still looking for the break and re-test below so keep your eyes out once we break out of this wedge . Have a good week all GLIYF
Screenshot_1.png
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock