EURAUD - 23/07/20 - Long Idea
Hi! Welcome to my page! If you're new here, my analysis is primarily based on 'Smart Money' concepts. I search for where the liquidity is, where imbalances/gaps in price are and institutional candle sticks.
In this analysis we are looking at EURAUD. The start of this week has seen price come down to test the price reversal zone around 1.613. Yesterday price reacted from this area breaking short term structure highlighted in the orange box. This expansion to the upside has left a pocket of imbalance which I would like price to fill before a further move to the upside. Looking for entry around 1.616, SL below previous low (1.613) and TP around 1.636.
If you intend to take this idea, remember correct risk management. 1-3% risk per trade. Let me know if you do choose to take this idea forward and feel free to comment below.
Harry
In this analysis we are looking at EURAUD. The start of this week has seen price come down to test the price reversal zone around 1.613. Yesterday price reacted from this area breaking short term structure highlighted in the orange box. This expansion to the upside has left a pocket of imbalance which I would like price to fill before a further move to the upside. Looking for entry around 1.616, SL below previous low (1.613) and TP around 1.636.
If you intend to take this idea, remember correct risk management. 1-3% risk per trade. Let me know if you do choose to take this idea forward and feel free to comment below.
Harry
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