Another short idea using the Rhombinacci theory which combines the use of Fib Fan and Fib Retracement on a potential market reversal. 50 pips stop loss for potential 200 pip move. I enter 3 positions at 0.01 lots with 2 x Take Profits and one position left to run.
Recently completed Smurf Village FX University Level Course.. introduced to the Rhombinacci theory. Identifying possible market reversal and then using Fib Fan and Fib Retracement to calculate Take Profit levels. Stop loss just above the first ray of the fib fan and potential for 600+ pips in one position, I use 3 positions at 0.01 lots with a different take...
Euro pairs looking good for a sell coming up in the next week or so. Again much like EU, EJ has created a high and a higher high. Looking and waiting for a reversal dip to occur over the next day or two. Sell stop will be placed 10-15 pips underneath the trend line.
EU has currently broken a pivot level. It has retraced to touch the pivot point but am analysing it to reach the support level in purple. I am anticipating a higher high and a reversal dip before it drops again like it did recently.
