EURAUD, Long Opportunity - 1:10
Updated
Goood morning traders,
After FOMC yesterday, setups are forming everywhere. We got a huge short on USDJPY and EURJPY as well as a long on USDCAD. As they've already moved, there's no point in me posting a chart analysis on that.
However, EURAUD is yet to move. EURAUD has traded down into a H4 Bullish Orderblock. The orderflow is currently bullish. I'm anticipating a reversal off this area or perhaps 30-40 pips below this area, this is my first area of entry however.
Price created a bullish break of market structure followed by a retracement back into a 5 Minute Bullish OrderBlock.
I'm looking to trade price back to refill the imbalance in the market place where the take profit is situated.
This trade yields a risk to reward of 1:10.
Best of luck.
Happy Trading.
After FOMC yesterday, setups are forming everywhere. We got a huge short on USDJPY and EURJPY as well as a long on USDCAD. As they've already moved, there's no point in me posting a chart analysis on that.
However, EURAUD is yet to move. EURAUD has traded down into a H4 Bullish Orderblock. The orderflow is currently bullish. I'm anticipating a reversal off this area or perhaps 30-40 pips below this area, this is my first area of entry however.
Price created a bullish break of market structure followed by a retracement back into a 5 Minute Bullish OrderBlock.
I'm looking to trade price back to refill the imbalance in the market place where the take profit is situated.
This trade yields a risk to reward of 1:10.
Best of luck.
Happy Trading.
Trade active
Note
Stop moved to breakeven.Trade closed: target reached
Solid trade: Entry point on this chart yielded 1:10, for a +10% return. I personally took the setup on the 5 min chart so hit 1:16 for 16% return. Not bad at all.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.