justatrader
Short

Week 7: EURAUD - Weekly Head and Shoulders

FX:EURAUD   Euro Fx/Australian Dollar
378 2 6
Long term trade, but given we have +ve swaps on shorts, this should work out fine.

Chart is self explanatory, combined with RSI divergence. Target of 1.31386 is the minimum objective. Expect a decline further.

Ideal trade plan would be to open 4 positions at entry, targeting 100, 127.2 and 161.8 Fib levels and the final position to be trailed with an open target towards 1.23.

So far
---------------------
Week 2:
Fx: 354Pips profits
Gold: 15 points loss

Week 3:
USDJPY: +290 Pips
AUDUSD: +72 Pips

Week 4/Week 5: None
Week 6: -42 Pips
Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
RayyanAljohani
2 years ago
Perfect. Don't you think now it's in ABCD on Daily
+1 Reply
justatrader PRO RayyanAljohani
2 years ago
Yes, it sure is. But there's quite a bit of resistance near 1.4068 and 1.396. Given the downtrend, it would ideally be a location to form a new lower high. Only a break and retest of the level for support would see a shift in sentiment.
snapshot
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out