''BUY MARKET ORDER''
Why buy?
EXTRAS;
Sellers were unable to push prices beyond a third of the ongoing rally. This should tell you that the buyers are strong, at least compared to those selling at these prices
X is one tick (!) away from a third of the previous rally, coming in at 1.18261, plotted on the chart. The exact low was made at 1.18262
Fibonacci cluster consisting of;
1.618 AB=CD, 2.00 extension, 0.786 retracement
Measuring the distance in time and price from X-A and comparing it to the distance in time and price from A-D tells you a whole story. In this case, on the chart we see that it has taken the sellers 10 times as long in time to barely even touch the 0.786 retracement. This should tell you that the buyers are winning the fight
less than 0.382 retracement indicates the trend is strong and confirms the theory above
I am looking to take this trade with stops 2 pips below 0.886 of XA. If stopped out, I'll be looking to enter again this time with stops 2 pips below X
If we go below X next support levels are potentially located at 1.272 or 1.618 extensions
Good luck to all everyone trading EUR!
Why buy?
- bullish Gartley '222'
- bullish hidden divergences
- Fibonacci cluster
EXTRAS;
Sellers were unable to push prices beyond a third of the ongoing rally. This should tell you that the buyers are strong, at least compared to those selling at these prices
X is one tick (!) away from a third of the previous rally, coming in at 1.18261, plotted on the chart. The exact low was made at 1.18262
Fibonacci cluster consisting of;
1.618 AB=CD, 2.00 extension, 0.786 retracement
Measuring the distance in time and price from X-A and comparing it to the distance in time and price from A-D tells you a whole story. In this case, on the chart we see that it has taken the sellers 10 times as long in time to barely even touch the 0.786 retracement. This should tell you that the buyers are winning the fight
less than 0.382 retracement indicates the trend is strong and confirms the theory above
I am looking to take this trade with stops 2 pips below 0.886 of XA. If stopped out, I'll be looking to enter again this time with stops 2 pips below X
If we go below X next support levels are potentially located at 1.272 or 1.618 extensions
Good luck to all everyone trading EUR!
Trade closed: target reached