Hello traders.
After the sharp fall, EURUSD is making a correction. I hope it will go up one more time and create better corrective structure, so I can find a better entry. I have put an entry order under the previous bottom. If it falls, I will be in the trade. Target is not clear yet. Down move can be weekly correction or weekly down impulse. It's too early to say.
After the sharp fall, EURUSD is making a correction. I hope it will go up one more time and create better corrective structure, so I can find a better entry. I have put an entry order under the previous bottom. If it falls, I will be in the trade. Target is not clear yet. Down move can be weekly correction or weekly down impulse. It's too early to say.
Trade active
Note
It broke the trendline with an impulsive drop. If you don't have this trade, wait for a small correction before selling it.Note
I have changed my short-term forecast. I think the up move is the C wave inside of the corrective structure. So, I'm waiting for a correction to close my trade. My medium-term forecast is still down.Note
Move stop loss to the previous top or breakeven. It's in the middle of nowhere. Both directions are very possible. I believe up move is more likely.
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Related publications
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.