From yesterday's analysis it seems like EURAUD hit a PRZ on the fib retracement and bounced up slightly (please see linked idea for the older fib) The newer fib retracement was drawn at this new high to get an idea about where we could possibly see another small bounce back up before going on its way with market structure downtrend. The arrows drawn on here are very over-exaggerated. These blue arrows are showing about what kind of turn we can look for if we get a reversing candle or MA pattern shown. The lower it goes, the slower it goes... free hand arrows are tough before coffee.
Trade closed: stop reached:
Ouch. AUD dropped like a rock. oh well can't win them all. next time use shorter profit targets in shakey markets. lesson learned
