Eur/Aud update
sorry guys but I had a small heat stroke yesterday afternoon and have been recovering. Plus I have not been trading london lately which would be very helpful to everyone if I was. I feel awful but saw some questions. I just knew EA was at a spot it would reject, with the possibility of much larger downside, and it did reject it. It came up to break the high. I can't explain the wave pattern/larger wave pattern and possibilities here (not because I don't want to, just not possible). I was looking for structure (ending diagonal/running flat) with the possibility of a much deeper retracement. Either is possible in this situation. If it continues down from this level and breaks channel, let some run to the larger 50-62% area I have shown. But at this point you should have taken some profit off it and if anything is left on it should be risk free. It can be in a running flat to extend up more. Equal length for a W-X-Y even takes it up to break major high, although the daily and 4 hr do look like it might sell. It's just at a crucial spot for the larger corrective pattern. I haven't had a chance to look back over everything. Too sick. Massive headache.
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