EURAUD - Weekly Timeframe - In a Big Tradable, Sideways Move

On the weekly timeframe, EURAUD is in a very big sideways correction, in what seems to be a huge regular flat type ABC. Having seen that the pair has already completed the A leg of said correction, as has most probably completed the B wave too, as it broke the trend of what took the shape of an ending diagonal, we can use this knowledge to look for sell opportunities, in the direction of the completion of the C leg (1.33 - 1.35 area). This is a trade not to be missed this year, as the profit potential is quite big. As usual, the trick now is to take short positions in the right points, in order to maximise our risk to reward ratios.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

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