Why are we entering? - Expecting USD strength during FED (26/27 July) & we are expecting upcoming EUR strength - in subwave 4 now which is a ABC corrective wave where we are seeing a 335 correction - Expecting rejection from our 0.618 finonacci level and descending trendline
What is our confirmation? - Rejection of 0.618 fib level - Break of WF
Entry - Safe Entry: Rejection of fib & trendline and break of RISK trendline once drawn - Risk Entry: Rejection of fib & trendline - Risk Entry 2: Early break of RISK trendline / WFB
Once entered, where will our Stoploss be? - Above wave 4 invalidation structure 1.039 (30 pips)
Where do we take profits? First TP: 1.00 (350pips) Second TP: 0.98 (560pips) Third TP: 0.955 (800pips)