As you can see price already broken below the ascending trendline for EURUSD. Right now price retracing at 61.8 fibonacci level.
This could be a good entry point for sell positions. As wave-2 tends to end around 61.8-78.6
We will sell EURUSD here to ride the movement of wave-iii.
Sell EURUSD 1.2085
Stop loss 1.2160 (75 pips)
Take profit 1.1825 (260 pips)
RR ratio 1 : 3.4
Use only 1-2% risk
Good luck
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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.