Categories: Forex Education

Sell opportunity in EURAUD

I think EURAUD is one of the greatest opportunities that we should be following this week. The pair made band-to-band move on the weekly chart and it is pretty much duplicating waves on the daily chart. Keep in mind in this very zone we also have December 2014’s high which will probably play the role of strong resistance zone. So i think once the current wave is completed around 1.53-1.54 we should look for sell opportunities.

Technical Analysis:

W1 (weekly chart) – band-to-band move

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D1 (daily chart) – potential 4th wave duplication

Entry:
H4 – Wait for the pair to climb a bit higher near the 1.53-1.54 zone which is the wave duplication from daily chart and look to sell.
Target 1 – 1.5071
Target 2 – D1 20 MA
Stop Loss – above last high created

Video Explanation:

Yours,
Vlad

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.