EURAUD Short
- Thread starter bigbax699
- Start date
bigbax699
Corporal
- Messages
- 49
Well its been a week since i've looked back in on our EURAUD trade. We are currently 433 pips up on this position. Since the last post we have had price come back and make a nice Lower High. But you can see where price also reversed right on the horizontal line zone of support. So its vital that we break through this to reach TP projection. i would secure 350+ pips profit at least with your SL just incase support is strong and we get bullish movement. GLIYF
bigbax699
Corporal
- Messages
- 49
Its been a couple of weeks since ive updated on EURAUD . Price is doing as expected, we bounced off the support and created a lower high. I also love how people say trend lines don't work......
Price reacted on the downtrend and the 53 ema above lovely. We are currently 400 pips in profit so if you kept holding we're about to make another push to the support zone . If you took profits or moved SL into the profits as suggested there was another easy sell from that trendline too. The TP is a big one on this trade but very rewarding. GLIYF
Price reacted on the downtrend and the 53 ema above lovely. We are currently 400 pips in profit so if you kept holding we're about to make another push to the support zone . If you took profits or moved SL into the profits as suggested there was another easy sell from that trendline too. The TP is a big one on this trade but very rewarding. GLIYF
Amina El Mehdi
Sergeant
- Messages
- 143
Looks like a price action by book. 
bigbax699
Corporal
- Messages
- 49
Today's update is on EURAUD . SInce the lower high was made we have seen great bearish action. I have changed the TP zone to the support level just below price. As it is a strong zone which has been tested twice, its wise to take our profits there. Currently 480 pips in profit on this setup so not much more movement to reach TP zone for 520 pips in total. We will watch what happens when we get there which will decide our next setup on this pair. Will update again in a few days after seeing some more price action. GLIYF
Amina El Mehdi
Sergeant
- Messages
- 143
480 or 520 there`s no significant difference so good trade for sure.
bigbax699
Corporal
- Messages
- 49
Last week finished well. We got the push down on EURAUD , I am going to call TP hit here, we are 500 pips in profit so lets bank them all and close this position now and look for the next one. There's two possible trade idea's im looking at. First one is the bounce from this support zone again if it holds, this is a little more risky as price action is bearish , But its possible we could reverse here as its a strong zone. My ideal setup would be to drop through and then sell the re-test, if we get one. You could always set a sell stop just below the zone to catch it if it falls. Either way look at price action on market open then you can look to enter on monday. Have a good weekend all. GLIYF
Similar threads
