I'm anticipating a brief turn to the upside in EURUSD, with a possible set up for a small long position. Overall I am bearish on the pair, so this would be a quick counter-trend trade.
If the July 6, 14:00 (UTC-4) candle high (1.01987) is broken prior to the day's low (1.01619) being exceeded, I'll plan to enter there with a stop loss at that low and a 1:1 target.
Alternatively, if a pullback breaks the July 6 low prior to exceeding the 14:00 candle high, and confirms a bounce, I'll enter with a target at the same level (the July 5th low) and a stop just below the new low.
I base my predictions off a variety of different Elliott Wave counts, anticipating what I believe is the most probable move on the short-term based on the confluence of those counts.
Please DO NOT mimic my trades. Do your own due diligence. I am not a professional analyst and Lord knows I'm not always right!
If the July 6, 14:00 (UTC-4) candle high (1.01987) is broken prior to the day's low (1.01619) being exceeded, I'll plan to enter there with a stop loss at that low and a 1:1 target.
Alternatively, if a pullback breaks the July 6 low prior to exceeding the 14:00 candle high, and confirms a bounce, I'll enter with a target at the same level (the July 5th low) and a stop just below the new low.
I base my predictions off a variety of different Elliott Wave counts, anticipating what I believe is the most probable move on the short-term based on the confluence of those counts.
Please DO NOT mimic my trades. Do your own due diligence. I am not a professional analyst and Lord knows I'm not always right!
Trade closed manually:
I closed this one near break even. I got the pop up overnight to trigger my entry but it didn't go as high as I was anticipating. I don't think it's going higher from here.