Fxprotrader
Long

EURUSD: Price At Lower TL Of Long Term Corrective Structure

FX:EURUSD   Euro / U.S. Dollar
1290 1 35
No median line analysis in this one but have a very interesting situation with price reaching the lower bond of a long term corrective structure. What we see looking at the daily chart is that we have the completion of both a gartley and an abcd patterns still active as price still trades above X point of the gartley . For those who are not in from the 0.786 fib retracement have a great opportunity to go long as the risk/reward has massively increased with price having dropped at about 185 pips below D point. I will personally take it from current level with sl below X and tp the classic 0.382 and 0.618 fib retracements of the AD.
Comment: Sl & Tp
snapshot
Comment: Price has broken above the downtrend it was moving. A bullish divergence is also a good sign that the downmove has lost its steam. We might have a correction to the down but overall i believe the market will keep climbing
MARKET MOVES EITHER 3 OR 5 WAVE , WHAT IS ABCD ?
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