This is just a potential set up of what i think will be the outcome of the next EURUSD move. This is based off wave theory that every motive wave has 5 waves. Based on my analysis, four waves have completed so far and therefore needs one final wave to be fully completed. My charts will become simpler as I continue learning and practicing.
entry: 1.06889 TP1: 1.06748 TP2: 1.06555
at (4) there is a major structure which i don't expect to be broke. The market, after reaching (5) should retract back up and start forming corrective wave. If this happens the market should go down to wave (3) or wave (1).
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SL:1.07122
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TRADE FAILED
Trade closed: target reached
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STOP LOSS WAS HIT BUT I SHOULD HAVE RE ENTERED MY TRADE AND STUCK WITH MY POSITION OR CALCULATED A BETTER STOP LOSS WITH RISK/REWARD RATIO IN MIND. I WILL GET BETTER AS I CONTINUE TO READ, UNDERSTAND AND PRACTICE.