EURAUD short prefered

Wait for pullback, confirm the breakout before re-entering short.

Note

Target at 1.562 hit, taking half profits and moving my SL of both entries to 1.572 (break even of second entry)
So, +250 pips for first entry and +100p for second one.

Price still in oversold area.
And for those who like to know what the big players are doing, Hedge Funds favor AUD weakness...

Note

SL hit for both short entries at 1.572 by 2pips but don't care, still made money.

Price might go up a little more but will go down at the end; BUT if it does not break the blue dot ligne, then it's going up to at least 1.88 !
So, for now be patient.

Note

*Price tested range , now is siting just below 50MA (2H TF) acting as resistance.
*(Not to get ahead of ourselves but if there is strong momentum on any push lower and the trend-lines were to break, a higher degree Head and Shoulder might come into play, turning this short term trade into a much larger opportunity)

**Should you see sustained trade beyond 1.5726 then price will be back inside the range, invalidating this set=up.
**First go after 1.58, followed by 1.55/1.54

Note

Price went back inside the range
So, all bearish trades are cancelled.

Now, trade the range or wait for a breakout on either side.

Order cancelled

Short bias negated.
Trade range or wait for breakout.

ElliottWaveBelgium

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ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas

Thanks !

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