EURUSD has offered a high probability move to the downside. The targets have been defined as follows:
Dark Red = Very High Probability Target
Medium Red = High Probability Target
Light Red = Medium Probability Target
Grey = Low Probability Target
If the Grey target is hit consider this Geometry:
This has been in development for several months (take a look at the related idea posted months).
Forecast remains in tact and in force.
3rd target remains a probability.
If 1.04998 holds, look for the Wolfe Wave to take course.
My reason for this is a rather obvious one, Fed raised rate and will continue to do so throughout next year. Euro is in trouble, fundamentally speaking.
To directly answer your question. You can enter a long here and put your stop loss below the recent low. Giving yourself a low risk to reward scenario. A long position here will require a lot of patience.