Euro / DollaroLong
"Red Zone" Buy In?
On this weekly EURUSD chart, we've been hanging out near the "red zone" for a bit, teasing the up move and back down, but it looks as though the RSI might finally start to give us some more upward adjustments soon.
Additionally, the Fibonacci is not closing past the 100 bottom line, but it's approaching closely...
The plan:
Wait for further movement downward to retest/tease the bottom wick of last week's close, and this may prove to be just enough for sellers to take a breather for us to have another decent upswing.
Worst case scenario, we break the pitchfork, hit the stop, and we go back to the drawing board.
Entry
Long: 1.0790
Stop: 1.0740
Target: 1.0850
Note: This is NOT a signal. This is for personal use - trade at your own risk.
EURUSD chart, we've been hanging out near the "red zone" for a bit, teasing the up move and back down, but it looks as though the RSI might finally start to give us some more upward adjustments soon. Additionally, the Fibonacci is not closing past the 100 bottom line, but it's approaching closely...
The plan:
Wait for further movement downward to retest/tease the bottom wick of last week's close, and this may prove to be just enough for sellers to take a breather for us to have another decent upswing.
Worst case scenario, we break the pitchfork, hit the stop, and we go back to the drawing board.
Entry
Long: 1.0790
Stop: 1.0740
Target: 1.0850
Note: This is NOT a signal. This is for personal use - trade at your own risk.
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