justatrader
Long

EURUSD - Seems like an inverted Head and Shoulders

FX:EURUSD   Euro/U.S. Dollar
652 9 5
Right shoulder yet to form, but so far looks to be supported by the broken falling trend line and strong support level just close to the left shoulder.

Option 1 is to long from 1.238 but at the risk of price spikes.
Option 2 is to long from a break out of the price channel near 1.25

Target 1.275.

EDIT: This is the line chart, therefore we are specifically looking at a close (not high or low) at or around 1.238 levels on the H4 time frame. So its not as simple as just putting in a pending order and hoping the TP will be hit. Hope this clarifies.
Hi justatrader
Eurusd ELLIOTT waves
+1 Reply
its a possibility... yet far from ready in my opinion i still see at least a run to 1.235 so im vouching for a little deeper to provide a better and sustainable in an uptrend to be?
lets see!! good luck boys!
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moneymaking Joaoalbuquerque
Good luck to you as well !!
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Hey justatrader, I think it's better to wait for the high impact new that is about to come out of US at 2 pm. This news can mess up the strategy. Thanks for sharing!!

Good Luck Trading!!
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justatrader PRO moneymaking
Yes, that's why I didn't put in any specific long entries. But those are the levels that i'm watching.
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moneymaking justatrader
Alright then, I'll keep an eye on these levels as well. Thanks once again!!
Reply
justatrader PRO moneymaking
FYI...
EDIT: This is the line chart, therefore we are specifically looking at a close (not high or low) at or around 1.238 levels on the H4 time frame. So its not as simple as just putting in a pending order and hoping the TP will be hit. Hope this clarifies.
Reply
moneymaking justatrader
Ohh, I completely overlooked the type of chart. I didn't even recognize that. Whaoo that's an amature mistake. Thanks for pointing that out!!
Reply
nope
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