EURUSD. Another Chance. Buy on dips. Target 1.2556-1.2761
Earlier idea paid well as the completion of wave C of (4) was predicted accurately. (see related)
This setup is more safe as we already have wave 1 of (5) in place and current drop offers opportunity
to enter long with known stop area (below 1.2155).
Entry on dip to the area highlighted with a blue rectangle 1.2217-1.2261.
Stop below 1.2155.
Target 1.2556 (former top) - 1.2761 (61.8% of waves (1)-(3)). Orange rectangle.
Enjoy!
This setup is more safe as we already have wave 1 of (5) in place and current drop offers opportunity
to enter long with known stop area (below 1.2155).
Entry on dip to the area highlighted with a blue rectangle 1.2217-1.2261.
Stop below 1.2155.
Target 1.2556 (former top) - 1.2761 (61.8% of waves (1)-(3)). Orange rectangle.
Enjoy!
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Wave 2 appeared to be more complex than expected.
It finally reached the initially preset buying area (blue rectangle) between 61.8 and 78.6 Fibonacci retracement level. The wave C of 2 is equal to the wave A of 2 at the 1.2240 level, which is in the blue rectangle area. At that level the buying could start to emerge.
It finally reached the initially preset buying area (blue rectangle) between 61.8 and 78.6 Fibonacci retracement level. The wave C of 2 is equal to the wave A of 2 at the 1.2240 level, which is in the blue rectangle area. At that level the buying could start to emerge.
Trade closed manually:
The move is not convincing.
Better book profits
Better book profits
