On December 22 2022 I posted the EURAUD 1 Hour chart on social media @AidanFX showing the SELL entry at 1.5892 with Stop Loss at 1.5912 and Targets at 1.5792 1:5RR minimum 1.5692 1:10RR maximum.
SELL Trade Setup
1. Price broke the 4 Hour HH/HL Sequence signalling more downside (Light Blue) (CHoCH=Change of Character)
2. Price pullbacks to the 1 Hour and 4 Hour supply zone and reacts with a move lower signalling more downside (Red and Purple)
3. Shift to smaller time frame 15 Minute chart and watch for price to pullback at supply zone for entry (Black)
EURAUD 1 Hour Chart December 22 2022
EURAUD 1 Hour Chart December 28 2022
SELL trade entered at 1.5892 with Stop Loss at 1.5912 and on December 28 2022 EURAUD moved lower to the proposed maximum target at 1.5692 for a +200 pip move and a 1:10 Risk/Reward winning trade.
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media 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.
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 social media for updates and questions> @AidanFX
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