Thursday, March 10, 2016

Elliott Wave Forex Trading - EURAUD Trade Wrap-up


The Aussie was over bought in 3 different currency pairs starting early this week, and the wave count and my proprietary indicators signaled a reversal was coming. Waiting for a break above the channel proved wise last night because if I were to have just entered at the market last night the final sharp dip lower would have stopped me out and I would have missed the trade.  After two failed trades I finally hit it with +130 pip profit, when averaging my entries.

PREVIOUS POST CLOSING POSITION:

I'm closing half position and moving profit target down to 1.4900 and stop loss up to 1.4760 on remaining position.

That was a nice quick gain, let's see if this pair can continue to the final target.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

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