EURAUD Short - TP Hit

bax699

Well-known member
472 101
Good morning all, hope everyone's having a good Easter weekend. Marking up EURAUD today, last time i called TP on this positions for 160+ pips which was the correct decision in the end as price respected the bottom of the flag. As we can see we are now getting squeezed into a corner. Classic way to show us which way to trade next. I have marked up my two ideal trade setups for which I would like to enter with. The break up or break down, buy or sell on the re-test. Fairly easy trades to take so mark your charts and wait for price to come to you. GLIYF
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bax699

Well-known member
472 101
Last time I looked at EURAUD we was waiting for a breakout of the flag. We got a big breakout to the topside. We have had a retest of the break and the current candle is consolidating. So I am looking at a buy option here. I would like to see price close above the moving average as its starting to turn to the upside. If support is found here on the lower time frames then I will take the buy from here up to the supply zone above. GLIYF

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bax699

Well-known member
472 101
Looking back on EURAUD again today. Price has been consolidating virtually sideways for a good number of weeks now with no real direction, you can see this as the moving average is just horizontal. Looks to be setting up for the next impulsive direction. Again i'm using the technique of trapping the market into a corner to give us an indication of direction. Keep your charts marked up and trade the winning direction. Should be an easy trade to take on the retest of the break. GLIYF
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bax699

Well-known member
472 101
Good evening all. Just a quick update on EURAUD . We were waiting for price to give us a direction for the next possible trade. This is an example why we wait for confirmation's. It looked as though we were about to get a downside breakout, But price had other ideas, looks to be a fake break out and now the daily candle has shot right back up. Again the setups are still valid but wait for the close above or below and retest then take the trade in that direction. Will keep an eye on this and update once a trade is taken. GLIYF
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bax699

Well-known member
472 101
Good morning all, update today on the EURAUD setups I sent out. Last time we got a fake breakout to the bottom, then price pushed right back up. Well it gave us what we were after, a breakout above and retest, giving us a chance to enter, it was literally to the pip of my arrow that's been drawn out for a while now. Should of been an easy trade for you all to take. Currently 140 pips up on this position and price is moving well towards our TP projection zone. Move SL into some profits as always. GLIYF

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jackpotgo

Newbie
4 0
I did enter the trade, however my entry is not the low point you mentioned. I enter when the price broke up the high of 5/18. Currently my SL is at the low of 5/19. On the hindsight, I can find a better position on H1 on 5/18.
Thanks.
 

bax699

Well-known member
472 101
Good afternoon all, I am away on a break currently so only intermittently updating on the trading for you all. Today checking in on the EURAUD setup we took. Last out we was 140 pips in profit, but today we are 235 pips up on this position. It looks like we could reach our projected TP zone. So keep moving stop loss into more profit as this is a supply zone and we could see a considerable drop from up here. I have moved mine into 190 pips profit and set my TP so what ever comes first will be. GLIYF
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bax699

Well-known member
472 101
Good morning all, checking back in on the EURAUD buy we took a short while back. We got the lovely breakout and retest upwards on this pair. Since then we have had movement in our desired direction, but also recently sideways movement. Price has almost hit our TP level but just not quite yet. Currently we are 177 pips up on this position and i would like to see TP hit this week, we can see price respecting the moving average perfectly trending upwards so its a possibility it might hit soon. Hold for now GLIYF
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bax699

Well-known member
472 101
Good afternoon all, today it's nice to report the TP zone on EURAUD has finally been hit. On most of the pairs I watch and trade there has been a lot of sideways movement recently. Even a couple of days ago this pair gave us a fright and dropped down to entry zone so its possible some of you may have got stopped out if you moved your stop loss to entry or profits. But it was quick and the daily candle wicked right out to form a hammer . Then low and behold we got the push to our projected TP zone, so 300 pips hit on that trade setup. I will have a look at the charts over the weekend and provide the next setup im looking at for this pair. GLIYF
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bax699

Well-known member
472 101
Good evening all, markets are open again soon. I think I will buy here at this daily Candle opening when the pips have settled down to an acceptable gap. The bull trend on this pair has gone quite nicely over past few weeks. We have what looks to be a nice bit of support found at the demand zone and looking for further movement to the upside. Hopefully it should play out nice and simply. Will update again in a few days. GLIYF

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bax699

Well-known member
472 101
Good morning all, Just a quick check back up on our EURAUD buy today. We are currently 126 pips in profit on this trade. The bullish trend continues from our original buy further below. The current daily candle looks strong so it looks like we could hit our projected TP zone. I may close earlier than the end of the green TP zone as it may meet the supply zone and reverse, but I will be watching and will update in a couple of days or so. GLIYF
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bax699

Well-known member
472 101
Good morning all, this morning I am going to close my buy position on EURAUD . Due to the fact it was a fairly quick intraday trade and not as big as a normal trade that we take. Its nice to take profits as much as you can so i'm calling the TP zone hit here as price sits in this supply zone . But we have another setup lined up and a very easy one to take if this bull run is to continue. Let price break the supply zone and buy above on the retest. nice and simple. Enjoy the profits for now and let the next trade come to us. GLIYF

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bax699

Well-known member
472 101
Good evening all, back on EURAUD again. Last post I said to close out the long position as it was slowing in the supply zone . What a great decision it was as we can see rice has fallen right back to our original entry zone (1). But with price doing that it has presented another trading opportunity to us with virtually the same trade, why cant we take it again (2). It seems like a range was formed and I don't see why we can't push back up to the supply zone . so if today's candle holds then I will be entering again with another buy back up to supply. Fairly easy one to take GLIYF
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bax699

Well-known member
472 101
Good afternoon, always nice to report a TP zone hit. We have profited from some great trades on EURAUD recently and the winning streak continues. After taking profit from supply zone last trade, we entered again when price came back to demand, it also got very close to our SL, but the moving average provided great support as you can see. None the less TP has been smashed with another 245 pips bagged with 1:2.6 R:R. But where next? Same again AUD looks weak in trend currently so if we get a pullback to the broken supply zone then ill look to buy again up to the top supply zone . Mark your charts and wait for price to come to you. Enjoy the profits for now GLIYF
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