EURAUD - BOOM! 450pip Target Hit! What's Next?

In our last analysis we identified a perfect breakout trade. We explained exactly how to enter - both risk entry and safe entry depending on your appetite. Setup played out perfectly resulting in a massive 450pip gain!

What we now have is a typical correction before the next breakout. We could create a complex abc correction so if looking to trade the next breakout, just be wary that we may reject the recent highs and then come down once again to complete the complex correction.

Trade Idea:
- Watch for the next breakout
- Risk entry on bounce off fib levels
- Safe entry on break of the red trendline
- Target the recent highs as first targets and breakeven (350pips), longer term target 1.7 (700pips)


Goodluck and as always, trade safe!

See our previous setup below.