Pairs on Watch -
EURAUD : This pair is sat in an interesting position, as the lows have been met so price has no reason to come back down, yet it has retested previous lows and sold off for three consecutive days. Due to the lack of middle section with this current structure, I will be looking for an insurance entry only for the short. This entire leg down could also be a larger corrective pullback where this is volume accumulation for the longs, if it breaks to the upside I will look for flags to get long also.
AUDCAD : I am still looking for longs on this pair with a clear target at the highs filling the near miss. A couple of options here, if price makes it into the base earlier and correctively moves down, I will look for a small stack of price and play the insurance entry once it breaks back in to the upside. If it starts to move away and build more of a middle section, we then have the potential for a 3-touch channel into the base where I can then look for a 1H risk entry long, stop protected below and target a 5:1 at the high.
EURAUD : This pair is sat in an interesting position, as the lows have been met so price has no reason to come back down, yet it has retested previous lows and sold off for three consecutive days. Due to the lack of middle section with this current structure, I will be looking for an insurance entry only for the short. This entire leg down could also be a larger corrective pullback where this is volume accumulation for the longs, if it breaks to the upside I will look for flags to get long also. AUDCAD : I am still looking for longs on this pair with a clear target at the highs filling the near miss. A couple of options here, if price makes it into the base earlier and correctively moves down, I will look for a small stack of price and play the insurance entry once it breaks back in to the upside. If it starts to move away and build more of a middle section, we then have the potential for a 3-touch channel into the base where I can then look for a 1H risk entry long, stop protected below and target a 5:1 at the high.Trade active
As forecasted this morning, I am currently short on EURAUD as a reduce risk entry on this 15M continuation - 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.