AUDEUR May Continue the Upward Trend: Long with a Tiny StopAUDEUR may have found the support and continue the Upward Trend.
Symbol: AUDEUR
Timeframe: 1H
Flexble Target Signal: The upper ribbons become Yellow or Red, which means the possible resistance works and it can be a good time to take profit or to stop loss.
T1: 0.6180
T2: 0.6195
Stop:0.615 - a tiny stop loss setup
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern
Signals:
Short Timeframe: Red - Green
Context: Long Timeframe Green
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AUDEUR
EURAUD - 100pip Short?EURAUD has been moving in an interesting manner of late.
If you noticed on the 4 hour, a consolidation around 1.63500 to 1.6300 - with a spike up to 1.6450 and falling back into the 1.6300 - 1.6350 range thus creating a head and shoulders.
Daily - We have come into Yearly highs, with a Spike up and a bearish close on the day, forming a shooting star/bearish engulfing, with the next day retracing, however we saw another spike into the highs. Market has failed to break past 1.6350 resistance and another shoting star formed. We ar looking for a break below 1.6300 to confirm the head and shouders formation.
EURAUD possible wedge in the makingAfter the great short trade we did 2 months ago, EURAUD had made a big rally past weeks and it has to make a correction sometime. With this possible wedge in the making, we might be able to catch the high for a decent correction. It's not a great wedge, because it could possibly be a ascending triangle instead. So i want to see a few more rejections first before thinking about a partial profit.
EURAUD bearish wedgeI have been looking at this one for a while now. It seems the support of that wedge finally broke, so we should see more bearish movement coming period. The lower high is set, but not confirmed yet. Needs to break that green support (break the previous low) around 1.590 first. On the right it seems it broke a support line and now doing a retest of it.
I tend to get in small here, get another small portion when i see it might drop on low time frame and would make it a normal size if that green support breaks. So risking a small amount for a possible big win.
I will also do a swing trade on the side, because it has the potential of a long term play.
Previous analysis:
AUDEUR trading plan week 3. w2 Bullish profits.Overall
On w2 AUD was the strongest against all currencies.
EUR on w2 was one of weakest.
For w3 i will have bullish position
Weekly
Looks like bears losing steam, but still in cotrol of market
Exhaustion candle as well
Daily
Uptrend, good power.
4H
Uptrend, seems reversal pattern has been launched from exhaustoin candle.
Open LONG
ENTRY 0.62900
TP 0.64170
SL 0.62180
RR 1.84
EURAUD possible upwards correction from support areaEURAUD has dropped a lot the past few weeks and went in a straight line towards the current support area. There is the potential for a bounce here and best case scenario we start to see a small wedge developing. If this happens i will make an attempt at the low of that wedge to get in with half a pos and increase it if the wedge breaks upwards.
EURAUD, nice long setupLooks like a solid triangle and a possible inverse H&S. Would be a nice scalp trade trying to catch the correction of the big drop it's made lately. I am going to go long if the triangle breaks and will move the stop higher as soon as we move higher. As soon as i get the chance, i want to move the stop to entry. The daily also shows a possible buy/reversal signal
EUR/AUD - Year High and now to the Downside..1.59EUR/AUD, the monthly candle is extremely bearish after failing to break yearly high's, Breaking the trend line will open up many possibilities and even dropping back to 1.59. Since the 20th of August we have been in a bull trend, Three attempts at 163.550 and all failed.
EURAUD formation and rising analysisEURAUD M30 chart
There are two bowl formations on the M30 graphic, large and small
First target is 1.54xx Second target is 1.55xx
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
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