QuileHills
Short

EURAUD Rejected from Resistance Zone?

FX:EURAUD   Euro Fx/Australian Dollar
825 14 23
7 months ago
I have a sell stop order pending as shown with a tight stop loss as EURAUD             appears to be struggling to break this 61.8% fib resistance while showing bearish divergence on the 1H RSI .

My goal is to short this pair down to just above the channel support (red line).

R:R of position shown: 5.83
7 months ago
Trade active
7 months ago
Comment: Draghi stopped me out but I'm re-entering at 1.49996
king.cholette
7 months ago
im in
Reply
Thank you for sharing, I took this one two, but is it possible, that this is just a corrective phase, after completed imp. wave...so the target would not go so deep?
Reply
QuileHills sketchmaster
7 months ago
Absolutely possible. I'll probably secure profit if/when the pair passes that first fib support. Proper position sizing for this stop loss will also protect from complete annihilation if the trade set up is invalid all together.
+2 Reply
sketchmaster PRO QuileHills
7 months ago
Thank you for your reply. GL
Reply
snapshot
Reply
any fundamental drivers that will support this sir?
Reply
marcus123
7 months ago
easy to get sucked into this one based on the smaller t/f divergence; wouldnt surprise me if we went higher/1.52305 before it drops
Reply
pipslover
7 months ago
This pair have a correlation on Aud/Chf
Reply
QuileHills pipslover
7 months ago
Yes, inversely. -97% correlation.
Reply
king.cholette
7 months ago
still in for me :D
Reply
QuileHills king.cholette
7 months ago
I'm back in. Draghi should be sleeping now, hopefully the RBA treats us well.
Reply
saidev99 PRO QuileHills
7 months ago
Thanks for your tip!! Got stopped out by Draghi!! Will let is run till around 1.485....then decision time...any suggestions??
Reply
saidev99 PRO QuileHills
7 months ago
To clarify...got in at 1.501
Reply
akshasuv
7 months ago
Thanks for the update
Reply
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