Hellena | EUR/USD (4H): Short to 61.8% Fibo 1.06824.

6 feb 2024

The price has updated the low of the wave 1.07242, which means that it is quite possible that the formation of wave 2 has started. I rarely trade corrections, so I recommend waiting for the formation of wave 2 to the resistance area of 1.07894, then I consider only short positions to the 61.8% Fibonacci extension level of 1.06824.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

8 feb 2024

Nota

Dear colleagues, the price has successfully reached the resistance area 1.07903 and now all my thoughts are only about short positions. I suppose that wave 2 is almost complete and the downward movement to the target 1.06824 is starting.

9 feb 2024

Nota

Dear colleagues, the price is testing the resistance area 1.07903 again. I suppose this is another opportunity to go short. My target is still in the 61.8% Fibonacci extension level of 1.06824.

11 feb 2024

Nota

Dear colleagues, the price is testing the resistance area of 1.07903 again. This may mean that the price will renew the high and reach the level of 1.08200, but I still assume a decline in the trading instrument to the target of 1.06824.
I expect the scenario to be completed in the coming week.

13 feb 2024

Nota

Price has started its downward movement. The important level is 1.07566. This is a local minimum, after overcoming it I expect the continuation of the decline to the target 1.06824.

14 feb 2024

Nota

Dear colleagues, the price has almost reached the target of 1.06824! I assume that this week the price will do it.
I recommend to set trades to breakeven or close part of positions.

15 feb 2024

Nota

There is a high probability that the price will go for a deeper correction to the area of 1.07556. This movement will give an opportunity to re-enter a short position to those who did not manage to do it earlier. In any case, we will see the situation by the end of the week. Don't forget to set trades to breakeven.