Get started
HayatoDragonFX

EURAUD, 4-hour timeframe, C movement of ABC correction

Long
Euro / Australian Dollar (FX:EURAUD)  
HayatoDragonFX  
FX:EURAUD   Euro / Australian Dollar
Trend Analysis Wave Analysis Chart Patterns EURAUD euraudlong euraudanalysis ABC abccorrection elliottwaveprojection elliotwaveanalysis elliottwaveforecasts
9
2
trendanalysis waveanalysis chartpattern euraud euraudlong euraudanalysis abc abccorrection elliottwaveprojection elliotwaveanalysis elliottwaveforecasts
Based on the 4hr timeframe we could see price already finished with B correction of ABC movement from elliott wave. After B is finished, C is expected to come in and it usally go to around 61.8 - 127.2 fibonacci retracemen of B.

I already have 1 buy position from 1.6190 and planning to add another buy position.
During friday price finally managed to closed above 1.6240-1.6270 resistance which is a good news for bulls.
This pair offers a good RR ratio currently as i believe AUD wil go down so EURAUD will shoot up.

Buy EURAUD 1.6260
Stop loss 1.6190
Take profit 1 @ 1.6420 (first resistance)
Take profit 2 @1.6550 (second resistance)
Take profit 3 @1.6680 (127.2 fibonacci retracement)

Good Luck
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.