EURAUD - Next week play

FX:EURAUD   Euro / Australian Dollar
524 11 11
I m looking to buy to sell the pair as per my EW count. I may be right or wrong but if it is what I think it is, then it will pay a huge dividend for the risk I m going to take. Always remember in forex, risk/trade management is the name of the game. So if I m wrong I will know in first buy itself & I will lose 1R, but if I m right then in my first buy I will score 2+ R & then will go for sell position with house money (win from recent buy) & risk 1R & try to win 5+R.
Let me know if you agree or you have any alternative plan in a comment section.


P.S. Look for my ECAD idea attached, the first attempt has failed at 61.8% retracement but got short at 78.6% area. Wait for pull back & enter shorts according to your trade plan, if interested.
wow this so cool.. how to elliot wav?
FxSaint NickCoulby
Hi, EW is very subjective analysis & everyone have different counts & criteria for counts. I have picked up few things from here & there, mainly from TV. I m not practicing EW completely, it only consist of 10% of my analysis. I mainly trade classical patterns, like flags, pennants, H&S etc.
long now??
FxSaint Future_Capital_Ltd
No! Lets wait & see more price action.
I think it is a drop (sorry for my bad english)
FxSaint Future_Capital_Ltd
Hi, EW is very subjective analysis & everyone have different counts & criteria for counts. This count doesn't qualify my way of doing EW but if this way works for you then good.
Got stopped on my longs.
Hi, I just went long on EA at 1.5665. Hope it plays out as planned. How are you on this trade?
FxSaint Hanu727
Hi Hanu727, my enter is at 1.5674 & 1.5775 is key & price above that will give lot more confidence & comfort. As of now it is making decision, lets see what will happen. http://clip2net.com/s/3ukuNcG
maybe it will happen very high
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