FullTimeTrader
Long

EURUSD-short term potential inverse HS setup

FX:EURUSD   Euro Fx/U.S. Dollar
1628 7 22
Notes on chart. Its true last days this pair is clearly on downtrend but it could finish soon.

- First target: last highs
- Second Target: 1.27 fib projection
- Third Target : 1.61 fib projection

Best Regards.
Hello, thanks for the chart idea. Can i ask why you have fibbed the leg of the short term trend line breakout ? I ask this because despite the breakout of that trendily, current structure has not been broken ?

Thanks
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Hello, it depends on your trading style (agressive or conservative), you can wait for confirmation and enter after the structure is broken. Personally i prefer to enter from the lows expecting an abc zigzag from here.....
snapshot
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Pip-thief FullTimeTrader
ok thanks. Wondering whether your ABC should be an AB-CD with the A commencing at the low point where you started your fib. That way the CD leg, being equal to the AB leg, would reach your -0.27 fib ext, which is also a prior resistance level just prior to July 13th (on this chart). ?
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great target 1.131
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Pip-thief IssaOuattara
yes i agree, looks that way doesn't it.
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Nicely done. Appreciate it.
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Awesome.

Saw the same pattern.
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