EUR/AUD H4 Update + TPI

Rationale:

Bullish progression continues - buy the dips into 1.2450 - 1.2430 area. Anything below 38%FiboRet of last swing invalidates the bullish count.

Please notice that there is MACD Bearish Divergence on H4 TF so trading plan might not work well.

Entry:
Buy Limit @ orange rectangle area of 1.2450 - 1.2430
SL: 1.2415
TP1: 1.2530
TP2:  1.2580
R/R: 6:1 and 8:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h4-update-tpi.html