Hi there fellow traders, after a 5 wave pattern to the upside on EURAUD, we might see an ABC move to the downside. Price is moving into our 78.6% fib area which is also a 127.2% extension from Leg B to Leg A, and looking at our previous market structure, we see that there are rejections at that level. This whole market structure forms a bearish Gartley. If market is to drop at that level, I believe it will head down to 1.49420.
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Sell was canceled since price failed to meet my preferred entry level.