EURAUD trading view
It was a beautiful trading day today. The market was quite vibrant. I finished my market analysis, as usual, to get ready for my trading sessions. One particular pair I was interested in was EURAUD.
Pair was showing quite an attractive euraud price setup. The first entry point was around 1:30pm, which I missed by a few minutes. Soon after, I entered the forex market for the EURAUD pair, as shown in the image below.
Forex pair started performing, and I was closely monitoring the trade as usual for euraud forecast. An hour later, I noticed a pullback momentum, so I locked my profits and started waiting for a pullback. Generally, for a forex pair pullback for this kind of trade setup, I don’t lock profit too soon, in fact, I scale in for next entry after the pullback; however, there was a good supply point around that price point, so I was expecting a deeper pullback.
A few minutes later, I saw that momentum is not drying up, and probably that supply price point was not an area of interest anymore. So I entered the trade again for the second time, however soon after, the effects of the supply price point started showing up on the euraud live chart, and I exited the buy entry for EURAUD right away, as shown in the image below.
Now I was just waiting for the pullback. Soon after, the pullback started coming in, and as expected, it was quite deep, as shown in the image below. However, after pullback momentum was dried, I found another euraud signal entry point for a long trade for EURAUD.
Conclusion:
After running the trade for a while, I decided to exit the trade around 22:30 GMT+8, as it was getting late for me, and I was seeing that bullish momentum was drying up. However, it was a decent trade giving me good 64 PIPS for the first entry, 10 PIPS for a second entry, and 41 PIPS for the third entry, a total 115 PIPS from one forex pair; EURAUD. That’s the power of identifying one quality pair for the day and ride the momentum until it dries up.
I actually did another forex pair trade parallel to EURAUD. Stay tuned for an update on that entry soon.
