Planning a short trade on a H4 supply zone on EURAUD.
Price has reached a D1 supply area, it's reacting to it forming brand new areas of supply on H4/H1.
The D1 is in an uptrend, see that D1 demand areas are being respected and supply areas being violated. This trade could not be a big runner, its target around 1.4500, right at the breakout spot which also is a confluences with the D1 ascending trendline
The entry would be on the H4 supply zone. The zone is too wide for my risk, so I have drilled it down to 40 pips. Price might no reach my entry price, but it's the maximum risk I'm going to take on a H4 level on the EURAUD.
P.S. I am not being very active because I'm on a sort of holidays with my girlfriend, I have limited access to my charts
Price has reached a D1 supply area, it's reacting to it forming brand new areas of supply on H4/H1.
The D1 is in an uptrend, see that D1 demand areas are being respected and supply areas being violated. This trade could not be a big runner, its target around 1.4500, right at the breakout spot which also is a confluences with the D1 ascending trendline
The entry would be on the H4 supply zone. The zone is too wide for my risk, so I have drilled it down to 40 pips. Price might no reach my entry price, but it's the maximum risk I'm going to take on a H4 level on the EURAUD.
P.S. I am not being very active because I'm on a sort of holidays with my girlfriend, I have limited access to my charts
Set and Forget supply and demand trading community