EURAUD, 1hr tf, further bullish movement
After rallying for +160 pips in the last 24 hours, i expect price to retrace a little bit.
I think we just completed wave-iii and will soon wave-iv correction.
If price retrace towards 1.5825 we will initiate our buy. This is where 50% fibonacci retracement of wave-iii located. It offers a good RR trade setup.
Buy EURAUD 1.5825
Stop loss 1.5785
Take profit 1.5945 (3R)
Use only 1-2% risk
Good luck
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.