The idea is that the complex correction could unfold lower to hit 61.8-78.6% Fibonacci of the previous large impulse.
The last leg of the linking correction ABC looks done.
Entry current
Stop 1.1646
Target 1.1446 (although it could drop much lower if second leg will exceed by size the earlier one)
The last leg of the linking correction ABC looks done.
Entry current
Stop 1.1646
Target 1.1446 (although it could drop much lower if second leg will exceed by size the earlier one)
Trade closed manually
will update the ideaNote
Trade closed at the breakeven as I see the possible wave C develops New Entry 1.1615-30 as shown by the green zigzag
Stop 1.1646
Target 1.1446
Note
Short here 1.1594Note
Stop 1.1609Take profit same 1.1446
R/R = 8.8
Note
it looks like triangle emerged in wave X.
Then stop should be above 1.1613
Take profit also recalculated at 1.1410
R/R = 6.6
Trade closed: stop reached
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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.