EURAUD Short

[sam.peters]

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.

That's my thinking too, it's tested it a few times and held.
Be keeping an eye on the 4H as it's dipped below it and closed on the hourly a couple of times.

 

[bigbax699]

Good morning all, reporting a stop loss hit this morning. I entered a buy on EURAUD after we got a daily doji on the demand zone like usual, but this pair had other idea's. The next daily candle kept dropping and took my 1% with it. But that's ok we cant win them all. What's next? Well it looks like we can look for a sell, so the ideal situation would be that we get a retest of the broken demand and trend line . If we get a pullback up to the supply zone that broke the demand we could try and get a sell in. Looking to target the long weekly trend line below. Lets hope we get that pullback so we can enjoy the ride. GLIYF

 

[Treacle]

Never mind, can't win them all and just 1% loss means it doesn't make a big dint in your pot

 

[Jim B]

That’s what stop loss is for mate, can’t win them all. I’m going to be looking for a good point to sell this pair in the coming week I think.

 

[JimmyRozza]

Hoping for a massive bounce back up from that 1.568 area. My EA is not looking great at the moment.... What do you thing will happen from there?

 

[TareqS]

Good morning all, reporting a stop loss hit this morning. I entered a buy on EURAUD after we got a daily doji on the demand zone like usual, but this pair had other idea's. The next daily candle kept dropping and took my 1% with it. But that's ok we cant win them all. What's next? Well it looks like we can look for a sell, so the ideal situation would be that we get a retest of the broken demand and trend line . If we get a pullback up to the supply zone that broke the demand we could try and get a sell in. Looking to target the long weekly trend line below. Lets hope we get that pullback so we can enjoy the ride. GLIYF
View attachment 69560

It is an explicit breakout. Thus, the sellers may wait for the price to make a bullish correction followed by a bearish correction to go short in the pair. Thanks for sharing the chart.

 

[RachelEB]

The 200 and 50 EMA have just crossed on the daily, so would like to see a deeper retracement back to the 50EMA totake a short position on this pair

 

[ForexWarrior2020]

Never mind, can't win them all and just 1% loss means it doesn't make a big dint in your pot

Thats so key isn't it. Like that gives you so much room to recover rather than jumping in at 5/10% on a trade.

 

[sebking1986]

So many easy lows to take out on the way down. I would think it will just aim for that low at 1.5262 long medium term.

 

[bigbax699]

Good morning all. EURAUD is the pair were looking at today. We have seen a sharp fall in price over the last few weeks. It was expected to visit the demand zone after the trend breaks, but I was looking for a pullback to join the selling off. But we didn't get that so now it may be time to get a buy in from this demand zone that we have had many of good trades off previously to the left if you remember. This is a good price reaction area. WAIT for reversal signs on lower time frame before entering. As its possible we may be going lower long term, id say depending what happens at this demand zone now. Aiming for the broken long term trend line at 1:5 R:R Mark up your charts and wait before entering GLIYF