Eur Usd is bullish as per my view. On the bigger picture, weekly, It seems the end of Wave 2 and beginning of Wave 3.
However, I am using the 4H TF to gain entry into a long position.
In the chart, the entry line is 0.786 of the last leg up which could possibly be Wave 1 in 4H TF. And the point 0.786 level could mark end of wave 2
Buying at 0.786 give us 35 pip SL as Wave 2 cannot get below Wave 1.
If things work out and the pair starts moving as per the direction I will let it run.
I will update if it works out.
However, I am using the 4H TF to gain entry into a long position.
In the chart, the entry line is 0.786 of the last leg up which could possibly be Wave 1 in 4H TF. And the point 0.786 level could mark end of wave 2
Buying at 0.786 give us 35 pip SL as Wave 2 cannot get below Wave 1.
If things work out and the pair starts moving as per the direction I will let it run.
I will update if it works out.