EURAUD Sell Idea

D1 cycles seems to be completing itself. On the H4 chart we saw divergence followed by convergence. Now final phase is to wait for a correction. Ideally this correction will come in the form of double wave up. Then with the break of the of the most recent up trend line we can short.

Target 1 – 1:2 Risk:reward ratio
Target 2 – 1.4620
Stop loss – above the last high before the breakout of the trend line.