EURGBP - turquoise box represents our 4H impulse. We are now looking to get a 4H correction wave to the downside. When we move in waves the most common Fibonacci level for our wave (ii) is 78% we may have entered this a little early but at the time the entry was perfect it happens sometimes.
Take Elliot wave I used confluence with a major resistance level to...
Price is holding nicely around the 50%-61.80% so far if we continue to hold and start to show bulls enter and try to follow the count.
Just had a break from the correction wave now looking to see continuation.
EURCAD is obeying the 38.20% level and market sentiment is starting to change we are going to enter into this position and try ti ride wave three to (3) which is 1.53114
Will also try to enter a short at point (3) and exit at point (4) and then long at point (4) to point (5)
Risk to reward ratio for this is 5.15
Four hour short analysis on AUDCAD using Elliot Wave entry is around (2) we are looking for rejection around one of the key levels and then a change In market sentiment.
-28 pip Stop loss (SL) Risk to reward is 9.32 Which is an amazing trade if it obeys the Fib and we see a bearish takeover.
Good luck to anyone who decides to trade this.