FX:EURAUD   Euro Fx/Australian Dollar
160 3 9
9 months ago
For my previous posts and context see below:
EURAUD 1st buy, then sell


The weekly time frame shows a possible major bearish break out longer term..
snapshot


Short term I will be looking for a reversal and retrace after the break out of the wedge (red) and/or channel (blue).
I will be looking for an impulse of lesser degree followed by a consolidation and trade the continuation.
Updates will follow.

www.timstuyts.com

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9 months ago
Comment:
snapshot
8 months ago
Comment: Crazy day with Draghi running the show in a way only he can. I was looking for 1.11 for the EU but because we didn't see that before the ECB rate decision I decided to let that pair go. However AU might be making that anticipated move lower which makes EURAUD interesting. Although the environment was extreme it did exactly as projected so far. Let's see whether it settles and buy the continuation.

snapshot

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waterman
9 months ago
Ver Good Titus !. Thanks !!!
Reply
jbourgault PRO
8 months ago
Actually, it seems that a previous trendline acted as a major support.

snapshot
Reply
TimStuyts jbourgault
8 months ago
Among other things yes, I came up with the likely reversal area by means of confluence among different approaches to measure structure. If that turns out to be correct the whole trade scenario will become very strong. This way I filter a lot of noise which increases probability.
Reply
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