moa_trading_journal

EURAUD – Short Term Sell before Big Buying Opportunity

Short
FX:EURAUD   Euro / Australian Dollar
EURAUD is clearly in the middle of a downtrend. By the way its shaping in the High Time Frame no, its clearly already showing exhaustion signal by forming a downward sloping descending channel . Last wek, EURAUD price has just broken below a Lower TF Ascending channel structure impusively followed by break of bearish continuation flag in H1 TF.

I’m anticipating EURAUD to make one last leg to the downside up to the bottom of descending channel before it reverse to bullish phase. Considering the range from current price until the bottom of this channel, Its surely a sell opportunity that cant be ignored. However, I’m still consider this sell opportunity as short term bias so its still can reverse anytime soon. I will manage the position carefully with only small risk.

The real opportunity is still waiting for the price to reverse to the upside in my opinion. Once the price has reach the bottom of the descending channel , I will wait for a clearly visible impulsive rejection from that area. Any break of bullish continuation pattern will confirm the bullish move that I certainly will make sure to take advantage of.

For now, let’s see how will this pair develop, good luck..

__________________________________________________________________________________________________________________________________________________________
Here is the MOA FX technical analysis , please comment below if you have any question.

The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.
__________________________________________________________________________________________________________________________________________________________________
Comment: We already hit the target area for sell setup and now start the big reversal move..

Comments