EURAUD - PREDICTION Long

Euro Fx/Australian DollarFXCM

Description

⋅ Nov 21, 2020 10:12 AM

SHORTS ARE ONLY VALID IF WE GET A WEEKLY BREAK OF THE SUPPORT.

Let us break this down.

We had a downtrend, followed by a failure to breach of the weekly support creating a double bottom.

Since then we've had the pullback 61.8% usual retracement, which has held, creating another lower high for the next impulse move.

Great RR here 1.65500 is the target which is do able for this pair and it's usual movements.

Comments

Helena_FX

⋅ Nov 23, 2020 10:58 PM

I see it has hit your SL. Why didn't you extend your SL to 1.61500?

RealistFX

⋅ Nov 23, 2020 11:06 PM

@HrystiK we did. Buy to 1.61600 risking 2.5% but didn’t even get below 1.61900. Back in the green now.

Helena_FX

⋅ Nov 23, 2020 11:11 PM

@RealistFX, Well, I really hope it works. I am not a fan of using a SL, hence I am suffering -70% of my capital, afraid now to place a Buy order as it might go down to 1.61500 I suppose I just have to wait....

RealistFX

⋅ Nov 23, 2020 11:48 PM

@HrystiK risk is the only thing we can control in forex my friend. You should never risk more than 2/3% of your capital per trade! We’ve been in this game a lot of years and seen people blow accounts due to not using proper risk management. Stop losses are vital. I hope your trades come back so you can continue to trade! If you’d like to be apart of our group and maybe learn a bit more about how we trade, feel free to message us and ask for the telegram link. It’s completely free.

Helena_FX

⋅ Nov 24, 2020 7:26 AM

@RealistFX, H&S formation on all minute/hourly charts. Is this a sign for going down?

RealistFX

⋅ Nov 29, 2020 9:24 AM

@Helena_FX, Hi Helena,

Apologies we didn't see this!

We don't really go lower than the 4hr for confirmations!