FX:EURAUD   Euro / Australian Dollar
615 3 12
Hi all,
Potential trade setting up on EUR/AUD             .
This trade is based on the weakness from AUD.
We currently have 2 legs up. (We can measure the strength of a trend by counting the legs).
Once the position is running positive we are going to move the SL to break even so we have nothing to lose but everything to gain.

Please see chart for more information.
"We currently have 2 legs up. (We can measure the strength of a trend by counting the legs)." Interesting observation. Did you come up with that all by yourself or is that proprietary information by Forex Watchers :)
-4 Reply
Tradinggrouptw ForexWatchers
No, this is information that can be found anywhere and is basically common sense...if the second move is bigger than the first, obviously its not showing signs of slowing down- you clown. Stop charging people 5000 USD for learning this, you little troll.
+5 Reply
100% agreed, also, in Elliot Wave terms the 4th wave correction should be swift and short, time-wise vs the more complex, time-wasting correction in the second wave here.
The strongest s/r level seems to be 1.4825 apparently, but it might not get hit for a fill.
+1 Reply
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