Friday, December 28, 2012

EURAUD Short Trade Setup EURAUD Short Trade

A short trade setup is coming on EURAUD. This setup is more identifying reversal point. 

On hourly charts, price is moving above and bouncing from 50EMA. Momentum looks to be up till price is above 50EMA. But a break below 50EMA signals fading momentum. EURAUD Short Trade

On daily chart price has just put 3 up long wicks indicating price rejection. Price looks over brought as well. 

On daily charts, price calls for shorts after getting rejected from trendline.

At the moment, I prefer short trade. I plan to go short on break & hourly close below 50EMA, with SL at trendline. 

UPDATE: I went short on break of 50EMA at 1.2745 and booked my short trade 1.2705, near to 100EMA. 

Profit of 40pips. A nice one.

1 comment:

  1. All this points regarding forex has cleared various doubts from my mind but it would really be good for me if I can get intraday SGX signals too from the same blog.


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