Yesterday I posted about a EURAUD looking for a long entry around the 1.4350 area, but price already went up like a rocket. The EURAUD finally broke the steep . I am now waiting for price to retrace back to the most recent structure or the . Stop goes below the lows at 1.45 area.
Target 1: 1.49188 = R:RR 1.73
Target 2: 1.51990 = R:RR 3.38
I wouldn't be surprised if the retracement doesn't go all the way down to my entry point, but in order to keep a good risk:reward ratio we have to wait.
I will be updating this as time progresses. Best of luck!
Stop at 1.4250.
Targets will be given later.
Interested in learning about harmonic patterns? PM me :)
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This new setup lines up with the other entry that I had on the EURCAD. If you want to take this trade, I suggest using the chart below.