EURAUD Approaching Sell Zone - Elliott Wave & Fibonacci

For this setup we have:

-Supply zone
-Major 61.8 Fibonacci retracement
-Major 161.8 Fibonacci extension lining up confirming the significance of the major 61.8 retracement
-Elliott Wave ABC pattern projection
-End of channel resistance

As we approach this area of confluence, you have two scenarios (aggressive or conservative) in mind depending on your risk appetite. Enter the trade either as the ABC pattern completes, a candlestick confirmation forms or a break and retest pattern is present.

Aggressive SL: 1.65460
Conservative SL: 1.66000

TP1: 1.62550
TP2: 1.61850
TP3: 1.61250

Please feel free to send me a message in regards to any questions, feedback or suggestions that you may have.

Enjoy!