EURUSD - Looking for 1.20 zone - but short term risk down.

OANDA:EURUSD   Euro / U.S. Dollar
We are in a correction started at 1.13

Two possible counts now :

1) Wave B is in place so now price is making wave C higher as a motive wave giving long opportunites. ---------------------------> LONG

2) We are in a WXY formation, so that we then need price to fall down to Y to have B in place, followed by a C wave higher.
In this case, the (i, ii) wave count is a 3 way ( abc ) move who might be completed. --------------------------------------------------> Pending Long OR Short Intraday

Economic events did not help enough today.
Sep 14
Comment: Wave 3 done

Sep 16
Trade active: Price fell as expected, now there should be a move higher. The divergence forming says that also.

Trade Setup : Pending Long for a few pips.

** Entry : Wait for MACD's blue line cross the orange one, trend-line break and/or MA before entering this trade
** SL : last low.
** Target 1 : go after 0.618 Extension level as there might be a truncated wave 5 (means this wave will stay lower than wave 3 high)
** Target 2 : 1.1770
* * * Note : To find the end of this move, look out for divergences.
Sep 16
Sep 17
Comment: Price going my way, SL moved to break-even.
Now it's a risk-free trade.
Sep 17
Trade closed manually: TP because leaving the screen for today.
Sep 17
Comment: +67pips
Sep 20
Comment: Wave B seems to be in place. Price now in a motive wave higher.

*Is there still a chance for this move to be an irregular flat ? If yes, price needs to turn before 1.1854 (Fib 1.382 lvl).

Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out