I think that this is not a good breakout. We have a big consolidation here and euraud is ready to reach the sky. My opinion ;)
nasbs94
⋅
@Pauland, yeps.. you are not wrong about that . I respect every each others opinion . The market can go anywhere they want . It depends on how well you know the pair & the way you took the trade. XD .
Pauland
⋅
@nasbs94, Totally!! The market is like those pictures where you can see two different figures at the same time. Good luck bro!
Rick_69ro
⋅
The lower the price, the better. Now is in process of retesting the line...
nasbs94
⋅
@Rick_69ro, yep.. im currently eyeballing the pair .. still testing the line
Rick_69ro
⋅
@nasbs94, presently both EurAud and GbpAud are going down in our favour even though Eur Usd almost reached 1.24. So I think EurAud will keep going down as Aud goes up against Usd and has potential to go up, see also Nzd starting also to go up and kiwi and aussie usually move in the same direction. So don t worry :)
nasbs94
⋅
@Rick_69ro, Its how the way you took the trade with your setup . ;) thanks bro ,, glad we're on the same page. XD
Rick_69ro
⋅
@nasbs94, no problem. 1.58200 will be 38% retracement, from there either goes up again or it continues to go down to 61% retracement whic is 1.57500. Well watch reaction of price on 1.58200. And one more observation: when a breakout occurs during Asian session, the price will retest the line during European session and viceversa. It is good to consider this when entering a position, don t use a big size
Rick_69ro
⋅
No problem, just set it on your charts and see how price bounce up from it during uptrends and it bounce down from it during downtrends. My target for EurAud should be 61.8% retracement from the top, which is app 1.57500.
nasbs94
⋅
@Rick_69ro, 61.8 looks like a good place to TP . Plus , looking left we can see lot of structure playing in that area . Ill be sure to take some profit around tht area . But my Original TP is around 1.565 area