EUR AUD UPDATE 5900 VALID TARGET BEARS AFTER BOUNCE

HEY GUYS, SINCE PREVIOUS IDEA ON EUR AUD FAILED (WE NEVER REACHED ZONE FOR SELLING). AN UPDATE IS OVERDUE.
THIS IS BASED ON AUDUSD TRADE SETUP POSTED PREVIOUSLY.

WE GOT A VALID SEQUENCE OF LOWER HIGHS WHICH IMPLIES THAT BEARS CONTROL THIS MARKET NOW.

WAIT FOR THE BOUNCE (AUDUSD SHOULD PULLBACK OFF THE HIGHS) AND LOOK FOR AN ENTRY ON SELL SIDE.

TARGET IS 5900.

GOOD LUCK, TRADERS.

PS: I WILL UPDATE IDEA ONCE WE HAVE A BOUNCE FROM THE PRZ.

Comment:

still valid. but I'm waiting for price to touch the cloud on 120 mins before entry.

Comment:

setup adjusted to the below. details see chart.

keeping an open mind in EA. if price fails in 120 min cloud I will seek to short sell into rejection.If PA can pierce the cloud I will look for a cloud back test and then initiate a long position in EA.
details - see chart.

Trade active:

OK GUYS. REJECTION FROM CLOUD CONFIRMED ON 120 MIN CHART.
TARGET IS 5940. BID NOW IS 6070. +130 POINTS DOWNSIDE.

Order cancelled:

THIS SETUP TAKING TOO LONG TO PAN OUT, SO IT'S VOID NOW. I WILL POST AN UPDATE ON EURAUD LATER THIS WEEK. IT'S NOT READY FOR ACTION YET. ALSO TODAY IS A HOLIDAY IN US.