EURUSD 5th Wave Long - 5 minute time frame

Using our Elliott Wave Indicator Suite for the TradingView platform we have identified this potential long day trading opportunity on EURUSD (5 min timeframe).

Wave 4 has pulled back into the amber zone of our probability pull back zones, which represent an 80% probability the price will go on an hit our Automated target zone , in blue on the chart. Our Elliott Wave Ocillator measurement is good and we have a crossover on our false breakout stochastic on the over sold zone. The yellow squares on the overbought zone denote a stong Bullish trend and when wen crossover in the opposite zone, there is a good possibility the stochastic will return to the main bullish trend for this timeframe.

Trailing stop used to manage this trade and very close as we are getting closer tot he US open.

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Commento:

Risk Free now

Commento:

Trailing Stop in locking in profits 1.10525

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New wave 5 high formed, $DXY continues push down

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Trailing stop was taken out, taking profits on this trade