EUR/USD Long -aiming for 1500 pips profit- with 4.8 R/R
Dear Traders all around the world
I'm excited to publish this EUR/USD analysis as it's very naked but still pretty logical from a price-action standpoint. Don't forget to like & follow, so you'll never ever miss any of my analysis! Your support really motivates me to keep going and publish my ideas here!
As marked in the chart, we have a 32d cycle from 12th November to 14th December. We've seen two cycles with two different structures yet.
1: Start (low) - Middle (higher low) - End (equivalent low as the higher low)
2: Start (low) - Middle (higher low) - End (lower low as the higher low but still a higher low overall)
I expect us to make a wick down to 1.13050-70 and quickly reverse, a daily close below this level would be bearish and could take us to 1.12360, along with liquidity engineering below. Overall we're still aiming for a decent 4.8 R/R long opportunity, targetting for 1.14700.
Entry-zone: 1.13250 - 1.13080
TP1: 1.13500
TP2: 1.14050
TP3: 1.14520
TP4: 1.14715
Stop-Loss:
For an intraday-trade, use the swing low of 24th January as a stop-loss (below 1.12895)
For a swing-trade, use the low of 1.12630 as a stop-loss.
I'm excited to publish this EUR/USD analysis as it's very naked but still pretty logical from a price-action standpoint. Don't forget to like & follow, so you'll never ever miss any of my analysis! Your support really motivates me to keep going and publish my ideas here!
As marked in the chart, we have a 32d cycle from 12th November to 14th December. We've seen two cycles with two different structures yet.
1: Start (low) - Middle (higher low) - End (equivalent low as the higher low)
2: Start (low) - Middle (higher low) - End (lower low as the higher low but still a higher low overall)
I expect us to make a wick down to 1.13050-70 and quickly reverse, a daily close below this level would be bearish and could take us to 1.12360, along with liquidity engineering below. Overall we're still aiming for a decent 4.8 R/R long opportunity, targetting for 1.14700.
Entry-zone: 1.13250 - 1.13080
TP1: 1.13500
TP2: 1.14050
TP3: 1.14520
TP4: 1.14715
Stop-Loss:
For an intraday-trade, use the swing low of 24th January as a stop-loss (below 1.12895)
For a swing-trade, use the low of 1.12630 as a stop-loss.
Trade active:
As I expected, we just reacted to our trendline. It seems like we could form a doji candle on the daily. If we manage to close like this we have another confluence and I'd add to this position. Yet it's too early to take any further action. Updates following.
