Home Forex Market Analysis Forex Signals EURAUD Breakout Retest Buy

EURAUD Breakout Retest Buy

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Flow Assessment

  • The daily is in a range, but recently there has been a strong move up by buyers that have built up positions. These buyers achieved something by penetrating old highs.
  • On the H4, seller moves are slowing down near the key reaction area.
  • On the H1, recent sellers failed to show defence of the key level

 

Location Assessment

  • Price is at a key reaction area on the daily, thus giving us reason to look at a lower timeframe for proof of genuine reaction structure
  • Price made a swing failure on the H4, taking out possible sell stops. This gives us more confidence in the trade as some people have gotten caught trading the wrong way
  • On the H1, we wait for the price to reach the last recent seller area and look for failure in defending that zone

Momentum Assessment

  • On the H4, the sell moves were slowing down and buyers were holding the level
  • The H1 shows a stop hunt below recent lows. Sellers failed to make a lower low here.
  • At the recent seller area on the H1, there were signs of sellers not defending that level, thus indicating to us that the buys are in.

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