FX:EURAUD   Euro Fx/Australian Dollar
14003 67 204
Hi traders , this is another pair we looked at in details. Also expecting an up move if it breaks and consolidate.

Let's wait for confirmation before we buy.
Use a tested strategy to trade.
If you missed the Webinar last Friday, you can watch it on youtube: http://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
Comment: I notice a lot of charts been posted using only trend lines as I do and I would like to warn those who follow me, that the lines themselves have little meaning!!! It is more about the STRUCTURE!! So not the break of the line that indicates a buy or sell but the COMPLETION OF A PATTERN within a given structure!!
YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
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Training : add to skype mangal457
thank you waiting for it
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anilmangal PRO MohammedAl-yagoub
Thanks
+4 Reply
Thank you...
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Thanks
+3 Reply
Perfect! Thank Anil!
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Thank you.
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im bearish on this one but i guess everyone has there own setups and ideas
snapshot
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ARFXC ARFXC
but only short if the next 8 hours shows bearish price action
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OgonjiS ARFXC
I also had this given the daily close on friday was below the support trendline. Let's watch though
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it brakes the bottom line so i was waiting for a consolidation to sell it.. but i am the newbie here! if you have time anil could you say why are you buying? Thank you!!
+2 Reply
agreed.. price went up for the last hours, but I found/find it risky too
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nhourani cortez
EURO FX /AUSTRALIAN DOLLAR
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Thanks
+1 Reply
it seems up
+2 Reply
Its testing the border between bull and bear territory
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Adriese PRO FluidicFX
I like bulls, I like bears, which will it be? :)
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Probably I'm mistaken, but think that it first can drop to 1,5172 and than up move occurs)))))
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for the ones considering short, if you notice the small double top at approx 152.9 level on the 4h chart and draw a support/resistance it alligns pretty well with the most recent lows so perhaps take that in to account. it may be worth adjusting the trend line slightly to suit, they are not an exsact science as we know!
Good luck which ever way it breaks :)
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Im new to all this, when do we buy/sell?
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Harvey ChadTaljaardt
everone will have there own entry methods. However i believe what is been suggested is to wait for a break of the small consolidation channel that is oulined on above chart, either to the top side or the short side then after that breakout enter on the first retractment.
good luck
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why long after the consolidation? if it breaks the trend line, then it must head towards down. Please correct me if Im wrong. thanks.
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Harvey Amina66
that would be referring to the smaller trend line drawn across the top of the most recent consolidation, not the longer term trend line.
however if it did decisively break that line then you would be correct in looking toward possible down side.
Although it appears to be below that trend line already in my opinion that is only due to the placement of the line not the fact the price has "broken" below that level if that makes sense. i find it easier to draw trend channels and support recent channels to create a guide as to price will react in this general area as opposed to a line because price cant be expected to react specifically on that pin point line as people will have them in varying locations....
if it had truly broken the trend line you would have expected it to move away quicker but it is actually just hanging around this area, so again i would suggest it has more to do with the placement of the line more than anything. I hope that makes some sense... this is my opinion only though and not all would agree.
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Amina66 Harvey
thanks for the explanation. It helped.
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The line or for that matter of fact any thing you put on the chart has nothing to do with what price will do ! I am looking at the structure and pattern I am expecting it make , if it does what i expected and I get a setup based on my strategy of trading such patterns then I will take the trade! if not then so be it, i will not trade it.
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wait for it to come, not trying to chase it
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Harvey anilmangal
yes well said :)
I think that is somewhat what i was trying to say in the sense that lines will be only good as a guide as they are placed there by yourself (and other humans on there own chart) so they will be in all different places so they are not generally accurate.
Anyhow, regardless i very much enjoy seeing your ideas and continue to build knowledge through them, so thanks for the time you put in to publishing them. All the best
+1 Reply
aaahmed12 anilmangal
Anil, theoretically would I be correct to predict that the up trend is due to go to the level, of the end of wave No.4, according to the Wave Theory?
Or are you expecting it to go higher?
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It seems we have different count
+4 Reply
ok what next?
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Thank you and thank you for all your webinars.
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Hi everyone.. a clear break is there.. do we enter now? and what do you recommend as TP/SL ?
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Hi MedianiTTo you do not enter if you don't have a strategy as then this would be gambling. if you have a strategy you wouldn't need to ask TP/SL as you would know where to put.
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After the breakout, we wait for a consolidation...
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this popp will be huge...buy
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nl88 PRO everthelast
was that a breakout?
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I think some down move will be in place as well, if it goes up, this is a very beginning of that, in my humble opinion we will make another lower low.
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Thank you for the setup Anil. It looks promising.
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Hi anil , i have been following your posts , your free videos for some time ... and i must say they are very informative , i have been strugling in trading for many years.... althrough i was able to make some money , i always knew that i miss something , i was and am not able to predict anything,i was always chasing the trend........... but your post , videos give sense of direction,ability to filter low probability trades..... .... i know its gonna take some time to learn your craft but i believe its 100% worth it... i´m currently saving some €€€€€ to take your course.... Anyway you are doing great job.... Thank you !!!
+2 Reply
Adriese PRO Asgardthor252
Yes, great job
+3 Reply
Great job!! Thank you for share..
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hi. can you tell me what is test strategy?
if you can.
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Anilmangal Where have you been???? or where have i been???
You Bad...!!!! Really You BAD... I MEAN BAD...!!!
I so wish that i could have found this site early. thanks man for all this good stuff! Your youtube videos are awesome!

Really you can't keep a good man down! God bless, stay blessed! your fan 100% i will download all this youtube vidoes!

Stay bleesed..! peace!
+2 Reply
Hi everybody, is this the right time to buy? thank you !
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Do we have a confirmation now?
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can we byu now sir
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always awesome
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Thanks Anil for this post, i took this trade and am already up over 180 pips.
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well, i got stopped out ^_^
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Nice breakout. Will be averaging in long at 1.5350-1.5450
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is this trade still going on? lots of struggling right now, seems bearish but may still end up going up
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Wait for a breakout of consolidation usually around London Session, then buy on the first impulse.
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khorkhii Lucid.Trader
thanks, yep went long at the break out, was 100 pips up but it retraced a bit. any advice on where my stop loss should be right now? worried about putting it too close and being stopped on a mini retracement.
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immortal9 khorkhii
Personally I like to book some profits and adjust rest of position to breakeven and let it rip.
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Lucid.Trader immortal9
More in depth explanation of this method please. Really would like to know.
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immortal9 Lucid.Trader
If you are 100 pips, close 50% of position with 50 pip profit. Rest of 50% position remaining adjust your stop loss to breakeven (your entry) and just let it go - it can go 400/500+ pips more. It's a free trade at his point
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khorkhii immortal9
Yep took the 100 pips, going to sleep and will get in again tomorrow morning if I see a good entry.
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immortal9 khorkhii
Awesome work
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Lucid.Trader immortal9
How do you close 50% of your position. In an active trade?
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adelph Lucid.Trader
When you are on profit with a trade, you adjust your stop loss on profit. Example you open a trade of 100$, when you are on profit of 20$, you can adjust your stop loss at 110$ so if it does'nt go as planned, you dont go on red, your order close on profit with 10$ benefits.
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EZ money Anil. Cheers.
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Seems like this is the consolidation that we've been waiting for ?
\
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Consolidation is done. Trade took off. Wonderful analysis to Anil!
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Hi, do you think it will hit the top of the canal?
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So it finally came! Thank you for the insight Anil. Did nobody else catch it? Anyone holding it all the way up?
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nl88 PRO laurencejevans
Im thinking of holding. But probably till half.
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Flying here as well. Thank you Anil :)
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