Technician
Short

EURAUD: Hits Resistance, Ready for a Move Lower!

FX:EURAUD   Euro Fx/Australian Dollar
1899 19 16
Update: Trade is active now!
Update: First Target Hit, Moved Stop To Entry Point.
Update: Second unit stopped at break-even
Profit(pips)= +150.
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EURAUD             is testing a key resistance level around 1.4575-1.4600 level

Daily chart:
-38.2 percent retracement level at 1.4576.
-Previous swing high and key resistance around that same area
-Bearish divergence on Momentum

Four-Hour chart:
-Minor double top formation with a neckline around 1.4515.
-Clear bearish divergence on Momentum .

I placed my sell limit order at 1.4525, targeting 1.4375 and 1.4245.Stop loss at 1.4600.


Best of Luck , join me at https://twitter.com/thefxchannel
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My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
I really like the way you analysis the market thanks for helping me to learn
Reply
kofesutra
2 years ago
Beautiful idea, I follow you ;)
Reply
got some awesome intraday trades out of that! thank u so much!
best greez from austria
+1 Reply
Update: Trade is active now!
+2 Reply
justindanethan
2 years ago
Hello Sir (or Madam maybe),
Can you comment on what's your current target for this particular trade? I entered at 1.4503 and a take-profit at 1.4375...
Reply
Technician TOP justindanethan
2 years ago
Targets are put on chart, at 1.4375 and 1.4245
Reply
pmks1 Technician
2 years ago
Impressive precise .... ;-)
Reply
pmks1
2 years ago
Impressive precise ... :-)
+1 Reply
iskandarler
2 years ago
1st target hit..
thanks bro.. learn a lot from you
+1 Reply
Update: First Target Hit, Moved Stop To Entry Point.
+3 Reply
thank you
+1 Reply
first Target hit. Thanks for sharing. much appreciated
+1 Reply
bogdan.saenko
2 years ago
Do U see doji on the chart? Is it a bullish signal?
Reply
Technician TOP bogdan.saenko
2 years ago
I dont mind, I closed first half , stop now at break-even. But generally, the ECB is about to announce so euro might move sharply. Closing the position is not a bad idea.
+3 Reply
bogdan.saenko Technician
2 years ago
Thanks for your answer!
Reply
martinpphillips
2 years ago
I agree with the rational behind this trade i am waiting for the pull back to the 61.8% on the Hr Chart to enter short
Reply
Update: Second unit stopped at break-even
Profit(pips)= +150.
+1 Reply
thanks technician
Reply
Technician TOP manijeh.kazemi.33
2 years ago
Thanks my friend..
+1 Reply
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