Earlier idea paid well as the completion of wave C of (4) was predicted accurately. (see related)
This setup is more safe as we already have wave 1 of (5) in place and current drop offers opportunity
to enter long with known stop area (below 1.2155).
Entry on dip to the area highlighted with a blue rectangle 1.2217-1.2261.
Stop below 1.2155.
Target 1.2556 (former top) - 1.2761 (61.8% of waves (1)-(3)). Orange rectangle.
Enjoy!
This setup is more safe as we already have wave 1 of (5) in place and current drop offers opportunity
to enter long with known stop area (below 1.2155).
Entry on dip to the area highlighted with a blue rectangle 1.2217-1.2261.
Stop below 1.2155.
Target 1.2556 (former top) - 1.2761 (61.8% of waves (1)-(3)). Orange rectangle.
Enjoy!
Note
Note
Note
Note
Note
Wave 2 appeared to be more complex than expected.It finally reached the initially preset buying area (blue rectangle) between 61.8 and 78.6 Fibonacci retracement level. The wave C of 2 is equal to the wave A of 2 at the 1.2240 level, which is in the blue rectangle area. At that level the buying could start to emerge.
Trade closed manually
The move is not convincing. Better book profits
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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.
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.