EURAUD Short

[bigbax699]

Good evening all. Last time out on EURAUD I hit a SL, but also gave out a couple of options to buy from the demand area, or sell if we broke below. Well price found plenty of support in the demand area and there was a perfect opportunity to buy with the daily doji . I didn't take this one but if you caught it you will be 170+ pips in profit and well over 1:2 R:R almost at 3. I would advise to take profits here as we may fall from this supply zone . Id like price to fall back and buy from that demand area again with the confluence of the trend line . Or price may continue bullish then we can look to buy on the break above if we break supply zone . Mark up and watch over the next couple of days to see what's to come. GLIYF

 

[JimmyRozza]

Looks like we are getting the bounce. I am going long on this one today.

 

[TareqS]

Trendline's support looks very strong. A bounce at the support may attract the buyers to push the price towards the upside. The price may find its resistance around 1.62000 but it may make a breakout and head towards the level of 1.64500.

 

[pezz55]

Good evening all. Last time out on EURAUD I hit a SL, but also gave out a couple of options to buy from the demand area, or sell if we broke below. Well price found plenty of support in the demand area and there was a perfect opportunity to buy with the daily doji . I didn't take this one but if you caught it you will be 170+ pips in profit and well over 1:2 R:R almost at 3. I would advise to take profits here as we may fall from this supply zone . Id like price to fall back and buy from that demand area again with the confluence of the trend line . Or price may continue bullish then we can look to buy on the break above if we break supply zone . Mark up and watch over the next couple of days to see what's to come. GLIYF
View attachment 69067

Looking at some nice reaction today and a push to the upside. Current market conditions are not what i like with the end of the trading month end of the 3rd quarter and consolidation on major pairs. if it continues will look for set ups going in to next week

 

[AliForexTalks]

EUR/AUD pair rise from 1.5907 continues today and intraday bias is staying on the upside. A further rise would be seen to retest 1.6434 resistance first. With 1.5898 support intact, a larger rise from 1.5250 is still in progress, and a break of 1.6434 will confirm resumption, for the 1.6988 Fibonacci level.

 

[Treacle]

Looks like we are getting the bounce. I am going long on this one today.

You should be happy now then?

 

[bigbax699]

Good evening everyone. Checking back on EURAUD today and last time out there was a possible buy given out and happy to report TP has been hit at a R:R of 1:4. Now we are looking for the same again. Price has also moved back down the demand zone where I wanted to buy from to coincide with the trend line to give us multiple confluences. Will watch todays candle close and see if there is any signs of a reversal and buy from this demand zone to go back up to that supply zone . Should be a fairly easy one to take so keep your eyes out over the next day or so for an entry. GLIYF

 

[Petezaa]

Good evening everyone. Checking back on EURAUD today and last time out there was a possible buy given out and happy to report TP has been hit at a R:R of 1:4. Now we are looking for the same again. Price has also moved back down the demand zone where I wanted to buy from to coincide with the trend line to give us multiple confluences. Will watch todays candle close and see if there is any signs of a reversal and buy from this demand zone to go back up to that supply zone . Should be a fairly easy one to take so keep your eyes out over the next day or so for an entry. GLIYF
View attachment 69389

Awesome trade mate, I was also in this short as per your analysis as a confluence. I'm also looking for buys next week!

 

[JimmyRozza]

You should be happy now then?

I was indeed mate! Until it fell back down. I believe we are now sitting on that trend line. Hope it's just a retest! EA could do with some northly action!

 

[TareqS]

I assume that the support zone may push the price towards the North. The price had several bounces at this level. However, a bearish breakout followed by confirmation definitely attracts the sellers to go short. Let us wait and watch what happens.