EURAUD - 300 Pips Potential Short

Euro Fx/Australian DollarFXCM

Description

⋅ Nov 29, 2017 11:00 AM

Price has hit the minimum expectation zone between 1.5546 to 1.5724 area, forming a diagonal structure with divergence formed on the RSI.

These provide us with a good conviction to look for a short trade targeting 1.5250 area, giving us a total of 300 pips potential.

Disclaimer - this is not a trade call. Make sure you understand the risk before trading.

Comments

tmanuelasorina

⋅ Nov 30, 2017 1:25 PM

very good analyse,but can you tell me what are these letters w,x y?

VampLeon

⋅ Nov 30, 2017 2:53 PM

@tmanuelasorina, w x y means that we are expecting another wave up. But it might not have that wave up and ended there for reversal. This is my understanding of EW

VampLeon

⋅ Nov 30, 2017 3:15 AM

May I know where will be the SL if it continue to make another X, Z?

KarYong

⋅ Nov 30, 2017 4:18 AM

@LeonLim, SL can be placed at the recent top. if it breaks the top, we will wait for another setup

VampLeon

⋅ Nov 30, 2017 2:06 AM

Still vaild?

KarYong

⋅ Nov 30, 2017 2:27 AM

@LeonLim, yes. still valid