ABCD Short set beautifully in EURAUD

FX:EURAUD   Euro / Australian Dollar
1130 3

As you can see from my chart a pretty rare ABCD move has formed on EURAUD today.

Why do I call it Rare?

Because it's the classic textbook definition of ABCD move.

Wave B has bounced off 61.8% retracement of Wave A and Wave C has moved exactly 1.618 Extension of Wave A.

I've set my own SL and TP for this trade. You set your profit target according to your own strategy.

Have a good day!
The wick ended right at your target. Was there any analysis used to find that bottom or was that just a coincidence?
+1 Reply
Fibbs :)
+1 Reply
As Trading_Accuracy said, it's the power of Fibonacci ;)
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