It was wise decision to avoid selling eurusd on the earlier idea as I cancelled the setup.
The price almost reached the earlier top and reversed down there.
Entry - current
Stop - 1.1755 (above earlier top)
Take profit - 1.1310 (ahead of earlier bottom).
The price almost reached the earlier top and reversed down there.
Entry - current
Stop - 1.1755 (above earlier top)
Take profit - 1.1310 (ahead of earlier bottom).
Comment:
Microview on 15 minutes
wave C already reached 61.8% of A
on this lower time frame we need to break below 1.1686 to terminate
this corrective structure
on this lower time frame we need to break below 1.1686 to terminate
this corrective structure
Comment:
system shows improper time of update as I set GMT+6 time zone in my charts
the correction could be over as price broke below above mentioned 1.1686 trigger.
next is 1.1652 to let the swing traders get convinced that the market emerges to the downside.
1.1718-20 area now is the first invalidation alert
next is 1.1652 to let the swing traders get convinced that the market emerges to the downside.
1.1718-20 area now is the first invalidation alert
Comment:
Move stop from 1.1755 down to 1.1736
Comment:
Move stop from 1.1736 down to 1.1721
as 1.1652 was triggered.
Risk/Reward ratio now grew from 4.86 up to 8.79
as 1.1652 was triggered.
Risk/Reward ratio now grew from 4.86 up to 8.79
Comment:
Trade closed manually:
Small profit booked as structure developed not as planned. It looks like a sideways correction therefore should wait and see for further opportunities.
After the breakdown of 1.1650 (previous low) we will move our stop lower above the current pullback.