EURAUD - No shorts before it hits 1.4790
Hey traders, this is my updated view on EURAUD.
Last week, I posted a bearish shark which completes at 1.46.
Over the weekend, I re-analyzed my charts and realized that a better shark completes around 1.4790 instead.
This better chart aligns much nicer with the H4 equal distance channel (Parallel channel).
We will be in for a volatile week ahead with the US presidential election, I will always favor the bigger TF patterns over the lower TF patterns to be safe.
Watch for price to hit 1.4790 -1.48 before thinking of going short on this.
Do not enter with a pending order, this setup might not completes this upcoming week, it is totally fine to be patient.
EP: 1.4790
SL: 1.4850 (60)
TP: 1.4510 (280)
Will keep you guys updated in this space here.
Thank you for reading my postings.
Last week, I posted a bearish shark which completes at 1.46.
Over the weekend, I re-analyzed my charts and realized that a better shark completes around 1.4790 instead.
This better chart aligns much nicer with the H4 equal distance channel (Parallel channel).
We will be in for a volatile week ahead with the US presidential election, I will always favor the bigger TF patterns over the lower TF patterns to be safe.
Watch for price to hit 1.4790 -1.48 before thinking of going short on this.
Do not enter with a pending order, this setup might not completes this upcoming week, it is totally fine to be patient.
EP: 1.4790
SL: 1.4850 (60)
TP: 1.4510 (280)
Will keep you guys updated in this space here.
Thank you for reading my postings.
Order cancelled:
This is the reason why you should not use pending orders, more so if a major news event is near.
Price just bashed through PRZ.
You would have hit SL if you used a pending order to enter this trade.
Good learning point!
Price just bashed through PRZ.
You would have hit SL if you used a pending order to enter this trade.
Good learning point!
