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ELWave
Nov 17, 2017 6:47 AM

EURUSD Buy setup, 1H Long

Euro Fx/U.S. DollarFXCM

Description

EURUSD has rallied from 1.1550 on a very sharp and almost vertical impulse which is not finished yet. The pair can easily reach the 1.1900 area where the 0.618 Daily Fibo retracement and some price resistance are waiting. The current analysis shows the wave "4" has finished at 1.1755 and we have a buying opportunity where shown in the chart to get wave "5" which is unfolding to extend to 1.1900.

Comment

The pair is now reached to buying zone.

Trade active

Comment

SL 1.1750

Comment

SL can move to entry

Trade closed manually

Euro continued lower and we exited with no loss.
Comments
donaldsaw
You need to check your fib's on the EW count -

ELWave
@donaldsaw, True, but in my count the impulse is not over yet.
donaldsaw
@ELWave, I can see that but best to check your main impulse count + your subwave impulse count via fib's like I have.
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