Adding to EUR/AUD Long Position

Now that we have surpassed the equal wave measurement for the purple degree, we can look to add to the position in anticipation of 1.53. The size of this position needs to be no greater than 40% the size of the original position (see link at the bottom). The risk to reward ratio is still good, but the 'easy' part of the move has surpassed and trading could get choppy.

However, there is still a good risk to reward ratio opportunity.

Stop losses on all positions are moved to the purple 'i' high of 1.4350

*Remember, this is not a trading recommendation, but to illustrate how one can trade using Elliott Wave Theory.