After a long decline we finally have the first impulse upwards. Based on Elliot Wave analysis it seems that the market just finished it's third wave and now making a correction. I spotted a supply area between 0.618 and 0.786 Fib retracement levels so I am expecting a bounce in that zone.
Risk to reward ratio is 1 to 5.
Good luck everyone :)
Risk to reward ratio is 1 to 5.
Good luck everyone :)
Trade closed: target reached:
The price reached entry level and kept going down towards invalidation line. Hopefully the price did not touch stop-loss line and bounced back reaching the target. At the end we had nice trade with great risk to reward ratio. Congratulations who took this trade idea :)
See you soon on the next one :)
See you soon on the next one :)