EUR/USD - DOWNSIDE NOT OVER YET - EXPANDING FLAT IN PLAY
As highlighted on the chart I do believe the pair is currently forming a 4th wave Expanding Flat correction, therefore we could see one more wave to the downside when the price enters the 1.1880-1.2017 region.
Now bear in mind I will not sell (market execution) as soon as the price enters that area, no. I will set a sell stop as soon as it enters it instead (will post an update of the entry). The highlighted box is simply my area of interest.
Stay tuned for the updates.
Disclaimer:
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Now bear in mind I will not sell (market execution) as soon as the price enters that area, no. I will set a sell stop as soon as it enters it instead (will post an update of the entry). The highlighted box is simply my area of interest.
Stay tuned for the updates.
Disclaimer:
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
