EURAUD - Watch The Buy Zone!
Updated
In our last analysis we identified the subwave B correction. We didn't have much information at the time but now as more price has developed, we can see that we're making a complex abc correction for wave B.
We will be looking for price to move down into our buy zone and then look for an entry trendline to get a confirmed entry.
Trade Idea:
- Watch for price to move down into buy zone
- Risk entry on bounce off buy zone
- Safe entry on break of entry trendline once we reach buy zone
- Target the recent highs as first targets and breakeven (350pips), longer term target 1.7 (700pips)
Goodluck and as always, trade safe!
We will be looking for price to move down into our buy zone and then look for an entry trendline to get a confirmed entry.
Trade Idea:
- Watch for price to move down into buy zone
- Risk entry on bounce off buy zone
- Safe entry on break of entry trendline once we reach buy zone
- Target the recent highs as first targets and breakeven (350pips), longer term target 1.7 (700pips)
Goodluck and as always, trade safe!
Note
EURAUD 8H - Watching for price to develop like this and we'll be looking for an entry trendline once we reach the buy zone. Big gains with very limited downside!
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