EURAUD 200 Pips - Potential for 500%+ ROI 1:5 Risk Reward#OnMyRadar...
My Market Opinion: 3 Point Reversal which involves a swing low, followed by a lower low, then a higher low. In addition what I am seeing is a possible WAVE 2 completion which can lead to an impulsive WAVE 3. All things considered, I am currently a buyer in this market from 1.4550. NOTE: Use a proven method that has worked for you.
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#onmyradar
#OnMyRadar: S&P Potential Pullback Shorting Opportunity.Waiting for price action sell signal at/near upper trend line / confluence (2030/35) to get short. If we see slow gradual market correction I will look to sell near the highest point then add to position at H1, H4 close below last Friday's low of (2008) for down trend continuation.
Note: It is always possible for markets to not play out as anticipated in any situation so I will never profess to "PREDICTING" markets, rather plan accordingly based on what markets presents to us for analysis, trade methodical, strategic and with open minded approach while scanning for familiar price-action patterns/setups that you/we have had success with in the past; this helps to build discipline when facing challenging market conditions. Trade your plan, respect your rule and have good guidelines in place to see to it that your rules are being kept.
David Calllwood - Market Analyst
www.EverythingIsACmmodity.com
#OnMyRadar: EURAUD 60 "Corrective Structure"Last week FX:EURAUD rallied 600+ pips to 1.4960+/-. Since then price action declined 200 pips +/- for an approximate 1/3 retracement of the rally waiting for price action buy signal at/near lower trend line to get long. If we see gradual slow correction I will look to buy near the lowest point then add to position at close above upper trend line with 1.5100/1.5250 as my targets.