We've gone long for an overnight position on EURAUD.
We believe that the 30% fib retracement can hold out, but if it doesnt, our risk is only 20 pips. Remember, that successful trading is making money over time and not having a beautiful 90%+ win ration.
The trade parameters meet our entry triggers, which is the support of the fib, RSI being low and some form of support to be show in price action.
This trade ticks all of that.
Oh yes! And the 10m chart has a beautiful contraction of price action, a bullish wedge.
Hi there, what is your view on EUR/AUD now? Do you think it will go back up, or continue further down? Thanks
PrimedGroup
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Hey @HrystiK ! I just released an idea on selling EURNZD, I think EURAUD might follow it south, yet the 4H chart shows a solid support level, but they can break and if they do price could tumble!
Heres a chart:
Are you stuck in a long position here?
Also, PS: send me a PM and I will invite you to my community for free. We are running a free trail for the rest of the month!
Helena_FX
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@PrimedGroup, The problem I've got is that I am -80% of my capital on this pair going Long (-350 pips so far) + GBP/USD going short (-400 pips so far here). So my worry is that I really don't know when to Buy or Sell to try to compensate for some of the negative balance because the margin level isn't good. If EUR/AUD goes down and I do nothing in the meantime it will be the end for me. Any advice you can give me? Thank you.
P.S. No I don't use SL, I know, I know if I can manage to save this account then lesson learned for the future.
PrimedGroup
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@HrystiK, Literally just went long EURAUD, but I day trade, so I dont expect 350 pips to come from this!
Will send you a PM
Helena_FX
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@PrimedGroup, I also day trade but end up opening trades that should have never opened in the first place, and now after 3 weeks in big trouble as hundreds of pips in losses.