EUR/AUD: Bearish flag in progress, 50+ pips to grab!

Hi guys,

I hope you enjoyed your weekend!

Back this morning with a new idea. EUR/AUD is currently developing a nice bearish flag.

Entry prices and targets are mentioned in my idea.

Please feel free to like/comment my ideas.

Best,

Jesse

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HEAD AND SHOULDERS IN PROGRESS

I am selling at a higher price:

Selling @ 1.56250
Target @ 1.55560

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1H VIEW

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UPDATE

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Guys there is another long-term trend line which I don't like because it could act as a support...

I am shorting now the pair @ the market

Targeting The support of the trendline

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TARGET: 1.56130

23 PIPS

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Off for a while

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FYI

1.56130 is the bottom of the trendline acting as a support as well as the low of mother candle. It could potentially be a strong support. Wanna get out of the trade before it bounces again

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The pair tested again the highs but is blocked currently by a double top on M5.

Should go down from here

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I usually always wait for a breakout but since I saw the H&S I decided to short earlier this time

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Testing the highs again.

The mother candle was taken on H4. So we have to wait until H4 breaks the high or low to decide what to do. In this case we still have 1.10 hour to decide.

Keeping my bearish view

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I will add to my shorts if/when price will break the trendline. It will be a sell at higher prices!

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H1 breakout could be a fakeout.

Let’s see where it goes

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H4 close at the high of its mother

Keeping my position

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ok guys price needs to quickly reverse or I will flip my position.

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Sorry wrong printscreen

there you go

we are still in this pattern (at the top)

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This is the kind of structure we currently have

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It is still a bearish flag...

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The daily is pretty bearish

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We could have this pattern in place

H&S

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We don't know if the pair will react again at the support trend line and go up again.

So the idea is the following: We target the trend line and then we take profits.

Then we wait til price breaks the whole structure with a re-test and then we short again .

Is it clear?

Of course price must stop rising from here and start going down for this scenario

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Price still contained into the pattern

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M30 engulfs the two previous bars

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Buying volume has been decreasing for an hour

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It looks like buying volume has been stopped as shown below

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Still in the trade.

The pair is pulling-back, we broke the main trend line.

The short-term pattern is the following

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OK guys the trade didn't go as expected this time.

I will average my position and exit somewhere on the trendline (check out my chart below).

I will add to my current shorts as soon as the trend line is broken.

I don't like this huge Daily candle, so I will only play the pullback on the pair.

By averaging the position, and hopefully if it goes successfully to test the trend line I will go out of the trade with a small profit.

Best,

Jesse

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The pair broke the trend line. waiting for a test of it and then I will short

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Last update for the day, it's already late here.

Best,

Jesse

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hi guys,

the pattern developed during the Asian session.

I am lowering my target (which means more pips).

This double resistance + bearish divergence in term of volume should bring price down today.

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5-min view

although price is going up, volumes are no longer supporting this move

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This will be my 1st TP.

I will take my profits at the support line and will short again as soon as the whole pattern is tested to the downside.

It's a continuation pattern so the pair should go much lower

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YEP, this trade is DAMN boring

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Testing the trend line

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I have already shorted twice. But If I had to short this pair, now would be the perfect moment IMO! Trying to add some stuff about my trades on FB check out my signature for further details!

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Target around 1.56400 (BOTTOM OF THE TREND LINE)

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Nothing to do except wait until it goes down :-) Enjoy your day/end of day/night guys!

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Hi guys,

the pair decided to test the trend line again but the target remains unchanged

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pulling back again....

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Stil a sell yes...

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Well....

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Look at that nasty pullback in 2h30.

More than 40 pips

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It looks like the pair reacted at the 50% retracement with a pullback which was rejected. the pair now is continuing its bearish move.

So my target of 1.56400/1.56350 (which is 61.8% fib retracement) is still on the table.

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I give/gave some extra updates on my FB page, check out my signature and follow me there as well :-)

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Update on my FB signature

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Hi guys, made an update with explanations and new targets! check it out on my signature

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Would love you to interact/comment there as well if you are on the platform! Cheers

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Price is trading at the trend line and testing it.

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Hi guys,

I haven't published much since the pair was consolidating. We should have some nice PA next week.

The flag is about to break.

Stay tuned on FB and here I will add some content.

Enjoy your weekend! Very sunny here in Switzerland :-)

Best,
Jesse