IamJeanPaul
Short

EURAUD HUGE 700 PIP SHS TREND CONTINUATION COMING

FX:EURAUD   Euro Fx/Australian Dollar
EurAud             Confirmed the huge triangle break, and is now forming a beautiful Shoulder Head Shoulder trend continuation pattern.
The right shoulder is currently in the making, and on the 4H Chart the market formed a beautiful evening star in the recent bars for me a sign that the upward movement is weakening, assuring that view, is also the fact that the bulls failed to close above 1.4420 level.
I went short @ 1.4425 with a tight stop @ 1.4493 looking for a move towards 1.3700
Comment: The position is currently in +170 pips profit.
I am moving my stop for now to breakeven @ 1.4425, it could be a little bit too early, but if the position is closed @ BE, i will reevaluate.
What about the last week pinbar?
Reply
@Mrsaini, Yes, i see it, but my view is bearish on this pair, thats why i took this sell trade. Maybe the market will go higher, nobody knows, but my stop is not so big and i am not risking big size lots so i can take the loss. EurAud is a very volatile pair, so anything is possible, but i prefer for now to go with the trend, and the trend is clearly lower at the moment because we are forming alot of lower highs as you can see on the chart.
I am willing to take the risk and will probably at some point move stop to Breakeven if the market moves in my favor.
Good Luck!
Reply
Mrsaini IamJeanPaul
@IamJeanPaul, Thanks for the clarification bro...
Reply
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