EURUSD possible short term bottom
I guess it is possible EURUSD has bottomed in the short term with an ending diagonal as 5th wave.
My trading plan is to long at this level, stop loss at 1.0510, where wave ((5)) of the ending diagonal will be longer than wave ((3)), and invalidate this ending diagonal count.
Upside target is 1.0850 (previous 4th wave)
then 1.092 (38.2% retracement)
then 1.103 (50% retracement)
Combined with my other bearish USD ideas, I'm pretty confident for this trade and I have entered long already.
My trading plan is to long at this level, stop loss at 1.0510, where wave ((5)) of the ending diagonal will be longer than wave ((3)), and invalidate this ending diagonal count.
Upside target is 1.0850 (previous 4th wave)
then 1.092 (38.2% retracement)
then 1.103 (50% retracement)
Combined with my other bearish USD ideas, I'm pretty confident for this trade and I have entered long already.
Trade attivo
already entered long at 1.0590, stop placed at 1.0510, 80 pips risk.Nota
BTW, this trade idea came from manijeh and anil, kudos to them.
Nota
Its good to tighten stop to 1.0550, or BE to your entry level while price has bounced back above 1.06.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.