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!
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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!