FullTimeTrader
Short

EURAUD-short term trade-convergence+correction

FX:EURAUD   Euro Fx/Australian Dollar
357 4 8
After a five wave impulse the price is making a correction, we have the first convergence shown on the chart.
Usually price retraces 0.61 or less before continuing the correction.
Target are the 1.27 and 1.61 fib projections.
Best regards
Looks good.
Reply
FullTimeTrader IvanLabrie
a year ago
Yes, im backtesting some setups, will not try to catch reversals from the beginning (like GBPAUD), this setup is more conservative because the price broke previous level and is making a retracement.
+1 Reply
IvanLabrie TOP FullTimeTrader
a year ago
That's what I usually do.
Reply
RamprasadSanthanam IvanLabrie
a year ago
I am short EUR/AUD any short term reversals/pullback is possible for this weak
Reply
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