EURAUD – probably better than trading into Yellen driven USD

I like to look at big pictures and when a trade setup stick very nicely to high timeframe levels, I opened eyes big.

This is what I meant, with EURAUD example.

""

Big picture analysis – long term trendline

""

ED channel – probably a movement within this ED

Hopefully a retracement higher could open up a better price.

Updated on 28 Sep 2015 5.53pm

I’ve mentioned previously to wait for a higher retracement price.

Below chart shows a possible resistance zone at around 1.6000-1.6050, and I’m waiting for a 1234 pattern with pt 4 towards that zone. Alternatively below 1.58 will be bearish to open up resistance at ED bottom.

""

EURAUD resistance level

Update on 30 Sep 3.19pm

Filled some sell limit on top as I mentioned in previous update.

Again, I don’t expose all my risk into limit orders, I only expose not more than 30%.

""

EURAUD sell limit

Updated on 1 Oct 2015, 4.01pm

Some additional support to note, modified ED base on new price high. Support will be around 1.5650-80.

""

EURAUD new ED base on new high

Update on EURAUD 2 Oct 9am

Wins from students, thanks for sharing.

 

""

EURAUD winning trade

Money in pocket is my money. That’s always what I believed.

There wasn’t a day close below 1.59 (round number) or even a close below 1.5850 (previous low, marked in chart below). Seems that this invisible level is holding well. I’ve decided since it’s friday, to lock some profit.

 

""

EURAUD levels

I’ve locked in at 1.5910, with some profiting 45 pips, another batch 140 pips, another batch 210 pips (yes, I entered on batches, mix of limits and market order).

I’m still “hoping”that 1.5700 (ED low, support) will come, but will plan for a higher entry.

Won’t be updating into this blog post on EURAUD trade, will only update TerraSeeds students via G+ or facebook.

If you like to know more about Tflow® Method and also our support, join me for this 2 hour forex seminar. Pure education. Sharing of experience.

Register for 2 hour forex seminar (free) with Binni Ong on 17 Oct 2015, 1.30pm-3.30pm

Register for 2 hour forex seminar (free) with Binni Ong on 20 Oct 2015, 7.00pm – 9.00pm

Loading Facebook Comments ...

Comments

  1. By Siok Neo Elaine Anne Lim

  2. By Siok Neo Elaine Anne Lim

Leave a Reply