Hey guys,
i hope everyone enjoyed their weekend. Just saw a very nice cycle on the 4h EURUSD chart. Please be aware that this is for educational purpose only. You can see how ever short term trend is starting with a divergence and has two correction waves (marked in yellow boxes). After the first wave down there is a reset (marked in the grey box) with another divergence exactly on the 0.5 fib level. Then price continues with another cycle down, which has ended now. So we are looking for a bullish cycle.
I will keep you updated in the comment section if we take a trade here through the day.
i hope everyone enjoyed their weekend. Just saw a very nice cycle on the 4h EURUSD chart. Please be aware that this is for educational purpose only. You can see how ever short term trend is starting with a divergence and has two correction waves (marked in yellow boxes). After the first wave down there is a reset (marked in the grey box) with another divergence exactly on the 0.5 fib level. Then price continues with another cycle down, which has ended now. So we are looking for a bullish cycle.
I will keep you updated in the comment section if we take a trade here through the day.
Trade active:
Just bought EURUSD.
Comment:
I do not like to predict price that exact but this is a likely scenario.
Trade closed: stop reached:
Trade was up +100 Pips and then got stopped out at Break Even.