Hey guys,
this is a Bat pattern that's going to complete soon on this pair, since it meets my rules i'm taking this on the completion, not waiting for a confirmation, although you may wait for it and gain from that. I'm setting an order at D point, with stops below X and targets at 382 and 618 AD retracement.
Feel free to share your view or ask questions.
See...
Looking to enter short trades upon price bouncing off from resistance.
Volume is starting to weaken as price moves up indicating market exhaustion.
Another way of trading this pair is to wait for price to break below the potential Double Top Neckline.
Counter trend opportunity
EUR/AUD
- Structure trade // Counter trade opportunity
- 4hr chart / Structure to the left with resistance around late April/17
- 4hr chart / Structure to the left with support around Mid May/17
- Fib conf. 61.8%
- Potential double bottom at 16th/June & today
- Nice long doji candel formed at both double bottom
Safe trading everyone.
EUR/AUD seems to have broken it's bullish trend and now is deciding whether it can breakout it's support and fall further down.
We can also see there is Moving Average Convergence Divergence with the MACD with higher highs with the candlesticks and lower lows with the MACD.
I suggest to wait for the breakout, but this could very well be a good setup.
Always...
For the previous days, the EURAUD pair has been continuously consolidating few pips above the support-now-resistance area. Due to the unwillingness of the bulls to fight on, it was hugely followed by a series of bear attacks. This of course, after another formation of inside bar, has made me point out to enter a short position for a quick trade.
Our preference: position bought above 1.4820 with targets at 1.4950 & 1.4990 in extension.
Alternative scenario: in break of 1,4820, a continuation of the decrease will be envisageable with 1,4775 & 1,4720 in line of sight.
Comment: The RSI is well oriented.
EURAUD looks very promising for a sell on the daily time frame! On a side note i must add then in about 5 hours now we have the aud interest rate decission, so getting in early can be risky! I get in with a decent position and am able to add more in case it drops on the news
Stoch Rsi shows a nice bearish cross over and at the adx you can see red line sharp bend...
A beautifull Hybrid Setup on EURAUD.
Entry direction will depend on the daily close.
If it will close below this level it will trigger a sell for next week, if its breaks on the daily close it triggers a buy.
Sell:
Sl: 1.5260
TP: 1.5130 > 1.0560
Buy:
Sl: 1.5140
TP: Keep it open and trail it with moving up your stop loss
Yesterday at my "Euro's comeback" analysis, I've suggested a pretty cut long opportunity for some chosen Euro pairs: EURUSD, EURAUD, and EURJPY. The rationale for this "pretty cut long opportunity" is the strong buy signal -- a bullish fakey pin bar. I also suggested to you to read Nial Fuller's educational writing regarding the said Price Action Bar. If you did,...
Through my previous analysis, I've shown you several short setups for the Euro currency. These includes EURGBP, EURUSD, EURJPY, and now, EURAUD!
For several days, the Euro-Aussie pair has tested the resistance several times -- and failed -- leading to a descend on prices. In addition to this, a possible fakey signal has been formed. Fakey bar occurs only after a...
What goes up must come back down. This pair has been in an uptrend for weeks and now it is starting to show signs of reversal (H&S?? Triple top??). Sell the pair on the breakout of the trendline, or wait for a retest then ride it from there.
Always use proper risk management!!! and Good Luck.
TP: 650+ pips!!!
