just a quick trading idea - more later as I am between doors at the moment. I am going long EURUSD as I believe the correctional a-b-c within the ii is complete. Furthermore the price just hit a perfect level which makes it even more attractive to me.
As I said, I will be publishing a more detailed update on this trade later on. Make sure you like this idea or even better, follow me to receive updates.
as promised here a more detailed update on my trade idea;
The EURUSD is, as I believe in an overlying correction made out of a A-B-C wave structure. Based on my wave count wave A has been completed, leaving B and C.
Within the overlying A-B-C is an underlying a-b-c which I intend to trade as I am not trading long term in the sense of long term. Given that I believe the price is currently forming a bottom (which is b) and soon starts a 1-2-3-4-5 structure to form c, which in return is also the overlying B.
To make a long story short: I am looking for an up move that indeed can lead the price into the price region of 1.2000 before it goes direction south once again. For this it needs a great bit of patience and active money management.
A sensible stop loss to begin with is a level just at the bottom of A, as the price MUST NOT dip below it to keep the planned scenario active.
I have just opened a EURUSD long position. More updates along the way. Thank you.