Time to Short EUR/AUD at touch Of Trend line

FX:EURAUD   Euro / Australian Dollar
303 23 6
Time to Short at touch Of Trend line : Easter Gift target = 50% retracement level at 1.40185....This is also the level at which
55 & 60Ma's converge
dhenal_r aceofswords
Good one
aceofswords dhenal_r
Thanks Buddy ;0)
dhenal_r aceofswords

do you think EA will go long from this point?
Well it could stop here, but there's absolutely no evidence so far that it will apart from a possible sideways resistance. I'm not saying you're wrong, i'm just saying theres no actual real indications from this level thus far.
+1 Reply
IvanLabrie PRO TomProTrader
I think it will fall too. You can wait for a move under the low, but I'm relatively sure we've reached the top here based on my methodology.
You can think what you please. I am not saying this is incorrect. I am just saying, there is nothing on that chart apart from a line SUGGESTING that price will fall off this level.

I was simply stating it'd be better to post the idea nearer the time where the idea is tradable so it's easier for viewers.
TomProTrader PRO TomProTrader
By the way please note, the line was totally violated.
IvanLabrie PRO TomProTrader
Trendlines are completely subjective in the worst possible way...


My target was more modest, it was exceeded, and time expired for this move up. Daily chart target was reached, if you review my own charts you'll see what I mean. Expect a reversal if this candle closes like that and we move under its low.
Me, being in the institutional trading world, like to stick to one raw philosophy, and that, don't trade, or even THINK about trading any instrument until you see a PHYSICAL reversal in the form of the physical PRICE. No signal=No reversal at that level, and when this idea was published there was a line, and a strong green marabozu. And that's fact.

Again, I am not claiming to know the future price. It does, however concern me, that if a trader saw that idea hit the line, they would immediately short, ASSUMING price would ricochet off of that level and go down, but no. They'd have taken a loss.
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