EURAUD - Watch The Buy Zone!

In our last analysis we identified the subwave B correction. We didn't have much information at the time but now as more price has developed, we can see that we're making a complex abc correction for wave B.

We will be looking for price to move down into our buy zone and then look for an entry trendline to get a confirmed entry.

Trade Idea:
- Watch for price to move down into buy zone
- Risk entry on bounce off buy zone
- Safe entry on break of entry trendline once we reach buy zone
- Target the recent highs as first targets and breakeven (350pips), longer term target 1.7 (700pips)

Goodluck and as always, trade safe!

Commento:

EURAUD 8H - Watching for price to develop like this and we'll be looking for an entry trendline once we reach the buy zone. Big gains with very limited downside!