Euraudsell
EURAUD - FOREX - 18. JUNE. 2019DACAPITALTRADING V2.0:
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1 HOUR
Bullish price action and pressure.
4 HOUR
H4 Price action broke previous highs and resistance.
DAILY
Overall strongly bullish waving market with several x-a waves and sctructure.
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FOREX SETUP
SELL EURAUD
ENTRY @ 1.63900
SL @ 1.64680 (80 Pips)
TP @ 1.62570 (130 Pips)
RR: 1.70
Use normal Risk (1% per Position)
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
Going DOWN UNDERWe are going down under. As you can see price is nearly at a key daily and monthly level and we can only see downside bearish movement IF price enters our resistance zone again... we will be waiting for price to enter this zone before taking a trade though... be patient and if price drops now from where it is before entering our zone and you miss the trade so what, don't cry and move on... The market will present plenty more opportunities.
Most people do not have the mind set for trading which is why they fail, this is the education systems fault.. but that's another story for another time ;p
Come have a chat with us if you like our style of trading to see how we can help you.
Going DOWN UNDERWe are going down under. As you can see price is nearly at a key daily and monthly level and we can only see downside bearish movement IF price enters our resistance zone again... we will be waiting for price to enter this zone before taking a trade though... be patient and if price drops now from where it is before entering our zone and you miss the trade so what, don't cry and move on... The market will present plenty more opportunities.
Most people do not have the mind set for trading which is why they fail, this is the education systems fault.. but that's another story for another time ;p
Come have a chat with us if you like our style of trading to see how we can help you.
EURAUD - A TUG OF WAR BETWEEN BULLS & BEARS CONTINUEThe EURAUD weekly chart above reveals that the rally from February 2017 low to as high as 1.61957 in March 2018 took the shape of a textbook Elliot Wave leading diagonal structure. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v); wave (iv) overlap wave (i) high which make the whole advance an Elliot wave motive diagonal rather than an impulse.
The Big Picture Still Remains in Favour of the Bulls
According to the theory, the motive waves “leading diagonal in this case” point in the direction of the larger sequence, and a three-wave retracement in the opposite direction follows every motive pattern.
Here, EURAUD correction seems to be unfolding as a "top flat ascending triangle" pattern labeled (a)-(b)-(c)-(d)-(e). Price has drawn wave (a)-(d) of the triangle and remain wave (e). So, in the short term, the price has the potential to move lower to complete the wave (e) of B.
However, once the corrective phase of the cycle is over, the larger trend resumes in the direction of the motive wave. This means that once the corresponding triangle correction in wave B is over, another rally in wave C can be expected.
The resistance area around 61.8% Fibonacci level of the monthly impulse structure “Not show on the chart” is plausible for the bulls.
Bottom Line
If this count is correct, traders should expect a short term decline and long term advance in EURAUD as planned on the chart.
Did you like this analysis? Let me know your thoughts in the comment.
EURAUD Harmonic Crab Pattern Analysis and Backup StrategyIn addition to our AB=CD harmonic pattern analysis we are seeing the formation of a Crab pattern as well. As a fallback strategy, if the resistance zone on the previous chart is broken then we are predicting the harmonic crab pattern to be completed before price falls to the targeted zones. We will post more updates as we see how the strategy plays out. FX:EURAUD
EURAUD - FOREX - 10. JUNE. 2019DACAPITALTRADING V2.0:
WELCOME TO DACAPITAL TRADING, WE PROVIDE ANY KIND OF TECHNICAL AND FUNDAMENTAL ANALYSIS
FOR FOREX AND CRYPTO-CURRENCY MARKETS EVERY DAY!
-
1 HOUR
Strong bullish market open and price action.
4 HOUR
Break above previous highs and takeout of shortterm sellers.
DAILY
Sideways moving market at resistance now, we need a small pullback!
FOREX SETUP
SELL EURAUD
ENTRY @ 1.62130
SL @ 1.62600 (50 Pips)
TP @ 1.61330 (80 Pips)
RR: 1.70
Use normal Risk (1% per Position)
(Remember to add a few pips to all levels - different Brokers!)
LEAVE US A LIKE AND COMMENT TO KEEP OUR CONTENT FOR FREE AND EVERYONE!
HAVE A GREAT WEEK
ALAN