EURAUD Daily 618 Ready?

26 Feb 2019

I have taken the time to analyze EurAud on the daily time frame. It appears we have a very nice Inverse Head and Shoulders Pattern. Drawing the Fib From Low to High, we can see the right shoulder aligns perfectly with the 61.8% Fib Level. From here I believe we may have an upside target of the 1.63500 region, for nearly 500 pips. Ultimately the stop loss would be up to you, I currently have mine set below the most recent low, however I would have no trouble extending it should I see it being necessary. As always once my trade is in profit I will move my stop loss breakeven and have a risk free trade.

1 Mar 2019

Catatan

Price has managed to hold strong at the 61.8 % level. From our right shoulder we have seen a bullish incline that aligns perfectly with the analysis provided. Currently price is up nearly 230 pips which is almost 50% of our projected target. From here as the week will soon come to an end its is fine if you'd like to close a portion of your trade to lock in some nice profit. Next week we may anticipate minor retracement before fulfilling our final target.

21 Mar 2019

Catatan

Moving Stop loss up into profit as this trade has been a bit back and forth. Still a couple hundred pips running. Would be nice to see the overall trade play out in full, however whatever happens we are now risk free!