Price has recently retraced to a key support zone and is showing bullish structure on the lower timeframes. A long position is anticipated based on the confluence of the Fibonacci retracement and recent bullish momentum.
Entry: Buy EUR/USD at current market price or upon confirmation of bullish candlestick pattern near the 50%-61.8% Fibonacci retracement zone.
Partial Take Profit: Secure partial profits at the 50% Fibonacci retracement level of the previous swing move.
Final Take Profit: Trail remaining position toward the 100% extension or next significant resistance.
Stop Loss: Below the 61.8% retracement or just under recent swing low for risk management.
Rationale: Bullish order flow combined with Fibonacci confluence suggests a potential continuation move to the upside. Taking partial profits at the 50% level ensures capital protection while allowing room for extended gains.
Entry: Buy EUR/USD at current market price or upon confirmation of bullish candlestick pattern near the 50%-61.8% Fibonacci retracement zone.
Partial Take Profit: Secure partial profits at the 50% Fibonacci retracement level of the previous swing move.
Final Take Profit: Trail remaining position toward the 100% extension or next significant resistance.
Stop Loss: Below the 61.8% retracement or just under recent swing low for risk management.
Rationale: Bullish order flow combined with Fibonacci confluence suggests a potential continuation move to the upside. Taking partial profits at the 50% level ensures capital protection while allowing room for extended gains.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.