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:

EURAUD November 23/2020 Social Media Post @AidanFX

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

Eight 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.  

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.  

 

 

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