EURAUD : Trading with the Trend


Since October 20/2020 EURAUD has been been moving and trending lower. We at EWF always encourage our members to trade with the trend and not against it.

On November 23 2020 I posted the SELL/SHORT trade setup entry on social media @AidanFX  “EURAUD @ 1.6232 SL @ 1.6272 TP1 @ 1.6192 TP2 @ 1.6152.” 

EURAUD November 23/2020 Social Media Post @AidanFX

EURAUD, forex, trading, elliottwave, @AidanFX, AidanFX

8 to 9 hours after the SELL/SHORT trade entry EURAUD moves lower and on November 24 2020 price hits both the TP1 1:1 RR Target at 1.6192 for +40 pips and the TP2 1:2 RR target at 1.6152 from 1.6232 entry for +80 pips.  If you followed me on Twitter/Stocktwits @AidanFX you too could have caught the EURAUD move lower. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100% is that we are RIGHT more than we are WRONG.

See also  Swiss startup launches tokenized grain trading pilot

EURAUD 1 Hour Chart November 24/2020 (1st Target HIT)

EURAUD, forex, trading, elliottwave, @AidanFX, AidanFX

EURAUD 1 Hour Chart November 24/2020 (2nd Target HIT)

EURAUD, forex, trading, elliottwave, @AidanFX, AidanFX

Sell/Short position closed and banked. Always know where your targets are before entering a trade and always close the trade when targets hit.

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.  Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX  or chat me on Skype > EWF Aidan Chan

At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different time frames and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

See also  Guide to Stock Trading with Candlestick & Technical Analysis

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial


Read more here