ChrisBaron
Long

EURAUD Weekly Supply and demand levels

FX:EURAUD   Euro / Australian Dollar
1.42 is sellers exit for the H&S pattern, confluence of the proximal line of demand zone . I will be looking to buy in around that level.
I have almost same order put in, order for long at 1.42541, lets see how long it takes, good chart bro
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ChrisBaron blackgordongekko
Sweet! I won't submit an order until It gets closer. Need to see if any supply levels form that remain fresh as that could damage the RR. As it stands it seems like all of the existing supply levels have been tested on the way down, I'm sure this fresh demand will give a bounce and a free trade at minimum but still needs 200 pip stop. You looking at 1.49 / 1.50 area for targets?
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Yeah this demand zone should be a nice strong one. I haven't preset a TP yet, first time doing a position trade as such, but i feel depending on how long it takes to activate I may end up taking profit at the 200MA, my stop is likely to be directly on the low of the signal candle. I'll be watching lower timeframes when it gets close to the zone to scale in better entries too.

I also have an order at 1.23924 to go long which might execute before my children have to go University hahaha.
Reply
ChrisBaron blackgordongekko
Yeah I will wait until nearer the time as there's still room for some strong supply levels to be formed.
Jees haha you could be waiting all your life on that one!
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