EURAUD POTENTIAL SHORT
1D Chart:
*on the daily chart price is showing signs of being over-extended based on seller momentum coming in
*price had been rejected at the previous highs leaving a lower low lower close candle for 9/18/18
4H Chart:
* on this time frame chart we have seen that the sellers had come in and caused a large drop in the EURAUD pair
*price has now breached/broken structure at the 1.61500 price area, showing a initial impulse move
*momentum of the seller seems to be stronger than the buyer that is attempting to pull price back into recent significant structure
*watch for strong seller interest at that significant price area on the potential re-test and re-visit of that structure level; this will show us the seller is still interested in this pair and we can look for a decent move to the downside on this pair
Make sure to always have a trading plan when approaching the Forex markets. It can be a game changer when you see your results based on having a strategic business decision versus a hobby like mentality. It is what will take your trading to the next level. Make sure to always implement proper risk management with every trade setup as well. Never risk more than 2% of trading capital per trade.
Keep an eye on this pair! Cheers!
1D Chart:
*on the daily chart price is showing signs of being over-extended based on seller momentum coming in
*price had been rejected at the previous highs leaving a lower low lower close candle for 9/18/18
4H Chart:
* on this time frame chart we have seen that the sellers had come in and caused a large drop in the EURAUD pair
*price has now breached/broken structure at the 1.61500 price area, showing a initial impulse move
*momentum of the seller seems to be stronger than the buyer that is attempting to pull price back into recent significant structure
*watch for strong seller interest at that significant price area on the potential re-test and re-visit of that structure level; this will show us the seller is still interested in this pair and we can look for a decent move to the downside on this pair
Make sure to always have a trading plan when approaching the Forex markets. It can be a game changer when you see your results based on having a strategic business decision versus a hobby like mentality. It is what will take your trading to the next level. Make sure to always implement proper risk management with every trade setup as well. Never risk more than 2% of trading capital per trade.
Keep an eye on this pair! Cheers!
Trade active:
Price came up into a descending trend line on the 4H time frame. Look for a lower high formation as well as strong seller interest/momentum around this level before a potential short.
Cheers!
Cheers!
Trade closed manually:
Trade was closed at break even for me. Not performing how I would like it too. On to the next. Cheers!
Trade closed: target reached:
Re-entered trade. Target 1 was hit. move SL to 15 pips profit Cheer!
Trade closed: stop reached:
After first trade hitting target 1 price came back to hit SL at 15 pips profit. on to the next one ! Good trade. Cheers!