Euraudsell
EURAUD SHORTBreak and retest of TL, nice rejections from the 0.618 which confluences nicely with a supply zone. Head and Shoulders formation on lower tf's which is a nice confluence for our sell, as well as divergence on the 30m RSI. SL an ATR above the wicks and TP is aiming for a retest of the lows.
EUR/AUDIf we look at Monthly and Weekly timeframe we have a lot of rejection from 1.6200 (a big shooting star Weekly).
If we look daily we have 4 rejections from 1.60000 and 3 dojis and 1 spining top (clearly this means that Eur/Aud will drop)
What I'm looking in this trade is a retest of 1.5900 zone before going down, it's a good trade where the risk reward is 1:8
basically 174 pips. Our first obstacle is 1.58500 level, which I hope we can break and retest before going down.
So I'm very bearish in this pair this also includes GBP/AUD.
My target is 1.57285.
Daily rejections and dojis from 1.6000
EURAUD testing Resistance Channel - Possible short trade EURAUD have been falling quite sharply over the past few days, for now this market is testing the top of the trend line where I can see the scope for possible resumption in the bearish trend.
I am waiting for the market to consolidate here and once it breaks below the consolidation phase, i will be triggering my shorts. Keep watching this market for a possible short direction.
Trade Safe!
EURAUD - SELL TIME - YOU AGREE?EURAUD HAS NOW BROKEN THE SUPPORT LINE
AND AS I HAVE ANALYSED WE ARE NOW EXPECTING
THIS TO GO DOWN.
GO TO LOWER TIME FRAME AND CHECK IF A FLAG
IS FORMING. BUT THE REVERSAL AND THEN SELL
DOWN. WELL THAT IS IS YOU ARE SURE OF WHAT
YOU ARE DOING.
SUPPORT THE MOVEMENT WITH YOUR LIKES,
COMMENTS AND FOLLOW FOR MORE
EUR is Crushing AUDEURAUD is formed a double top on the daily chart over the past few weeks. Trends will often continue until a specific event take place or when buyers step in at significant levels; I don't see buyers stepping in within the next few days. I am noticing price has not closed below the long term trend that you can see on the chart. In fact, it appears to be bouncing at this level. After a clear break (closed candle) of the lower trendline, the real selling will begin. Jumping in before this level is broken could result in the market faking us out. I have not seen any major news that would cause EURAUD to reverse and head higher, but we both know this does not always matter. It is always best to trade with the trend, and right now the trend is bearish. CAUTION: Pay attention to the wedge towards the bottom right of the chart. This appears to be a breakout zone, which can go either way depending on what is happening around this time. Would love to see your view and hear your thoughts.
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-StampsFX