AshleyWeyers
Long

EURAUD Long but wait for retest of zone

FX:EURAUD   Euro Fx/Australian Dollar
51 0 3
1. Weekly, Bullish , price currently testing fractal support level
2a. Daily, although it broke through resistance, since then price has steadily retraced.
2b. The pin bar and bullish engulfing did not touch the bottom of the zone, or the 150 EMA , this is also a .5 Fib retracement level

With the lower highs and lower lows and %R below -80, looks like price will test the support zone again before any long opportunity
Comment: Price is consolidating at the zone, now lets look for Price Action confirmation
Comment: As you can see price action never confirmed, so it was good in that we did not take any trades
Order cancelled: Although there was a nice pin bar at support, we did not get price action confirmation.

Staying out of a trade is also a good strategy if you do not get confirmation.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out