Short EURAUD: EW Correction to Cypher Completion

EURAUD has entered a corrective structure after completing a five wave impulse. This iis a setup to trade iii of c toward the completion of a bullish cypher pattern. The cypher PRZ is confluent with previous fourth wave support and the 50% retracement of the impulse. Entry is triggered on the break of the trendline with SL above structure highs and target near cypher completion.

Order cancelled:

No breakout, awaiting PA

Trade active:

Short active on recount and new trendline break and retest:

Trade closed manually:

Closed at +24 pips before NFP