ForceFollower
Short

EURAUD An Impulsive Correction

FX:EURAUD   Euro / Australian Dollar
This pair, being quite the mirror image of AUDCHF             , has staged an impressive correction worthy of an impulse move. So, going short now, kind of feels like fighting the trend and it may not be easy. The AUD has been oversold in the recent hours and is quite likely to start a recovery in its momentum cycle. I find its relative strength neutral, not weak yet, no matter how bad it looks now. The EUR is stronger than the CHF, but the're both weak now. The stop should be placed above the spike high to the left, esp             . given the fact that a three drive pattern may be completed. The target? Either at the crimson median line or the horizontal multipivot line.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
And the show goes on. Here's my current position running.

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veru good
+1 Reply
ForceFollower DrAMohammadi
Thank you. I'm glad you like it. :)
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Analysious ForceFollower
Nice trade hit target dead on :)
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ForceFollower Analysious
Thanks. It kind of wanted to return to the median line. :)
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