EURAUD Short

[bigbax699]

Morning all, today updating on our EURAUD sell. We are seeing bearish movements from price action with lower highs, but still only equal lows so far. We need this little support shelf to break so we can go through to our TP. Currently we are 195 pips in profits which is still a nice return. Always remember to lock profits in and dont give it back to the market. GLIYF

 

[Colin Lewis]

Had my positions marked up and they have all been activated today. To set at the cross of those lines

 

[bigbax699]

Happy monday all, new week begins with an educational lesson in what can happen in the markets. Last week we were sitting heavily in 195 pips profit on EURAUD short. Then in a couple of days price came all the way back top entry, shows you what can happen in forex in a short space of time. i did advise to lock in your profits last post so if you did i imagine you got stopped out with your profits, i have marked out the point where you should iof got out with maximum profits knowing when it was going to turn against us on the hammer daily candle. Looks like a very clean W pattern you can see the harmonic points where its turned each time. i can still see it falling from here again so im holding my short bias. Have a good week all GLIYF

 

[Colin Lewis]

Saw euro on fire last few days so I longed it with the trend. I will watch it flop back down now for a week or so and re asess

 

[bigbax699]

Another educational lesson today from EURAUD . This is the reason why we lock in profits on our positions. EUR got pumped alot recently as we saw across the board on most pairs. If you was in the sell with me price came back and shot right through our entry, but hopefully you all got out with profits as advised along the way. When i look at EURAUD i think of the average general price it trades at, 1.7 area where we are to me is a high price, only ever once before it was higher but these prices are market reactions and they soon fall back to average price areas. That's why i will only look for selling positions around these prices. It only takes one line drawn correctly where you can see it turned instantly, the resistance line i had drawn out previously price rejected from straight away, even if you sold from there you would be 220 pips up already. People trade different ways and this s the way i trade, the main thing is it catches pips and that's all we need to do. Draw out your zones and react to price action in those areas. i still think price will come down to the circled out area, i might join the ride on a price pullback. watch out for it ill update when i do. GLIYF

 

[Colin Lewis]

Had some decent profits this week. Didn't realise the pip value is higher here

 

[Shaun89]

Nice work. The doji was certainly the end of this trade as you say!

 

[bigbax699]

Looking at EURAUD today. Ive always said on this pair its higher than average price for this pair and i would always look for selling opportunities. The last time on this pair we was selling from the first sell point marked out. We made 200+ pips but then had a reversal candle formation happen so was advised to get out with profits. Even if you didnt it was risk free trade and a lesson why we lock in profits ad price turned right against us. But as you can see from the previous marked out horizontal zone price literally reversed right on point. If you caught that move you would easily returned over 500 pips in a short amount of time. Ive marked the zone above where i would like to sell, also if it breaks below and retests then there is a big space to a weekly trend below to sell to. All in all look for nice pullbacks to supply zones and watch for resistance to form GLIYF

 

[bigbax699]

Last time i looked at EURAUD i gave out acouple of sell zones i was interested in. It was literally pinpoint bar a few pips, just check the entry on that position. Currently 179 pips in profit, but yet again we are sat at the strong support zone . So again i advise to lock in profits, dont give back to the markets and keep holding for now, if you see that reversal pattern forming then pull out as many pips as you have. GLIYF

 

[bigbax699]

Happy monday all. New week begins and were on EURAUD today. Last week i gave insight on how i find my setups from levels to enter or to stack. Now last time oin this pair we were sat on the support zone below. i advised if support was formed then to take profit which at the time was 180 pips is. Then what did we get a big candle right back up to entry zone, that support zone is a strong price to break up or down. But look whats happened from the same level, sold off yet again and now currently 170 pips in profit. They should be easy pips to catch if you trade intra daily. Ill say the same again on this support zone if it doesnt brake then take profits. But when it does break then we could see some real nice amount of pips. GLIYF