LONG TRADE IDEA ON EUR/USD. THE PAIR IS OVERSOLD. THIS TRADE OFFERS A 5:1 R/R. PRICE ACTION BROKE BASE AND PRICE CLOSED ABOVE BASE THEN RETRACED AND PRICE BOUNCED OFF THE SUPPORT LINE.
EUR/GBP PRICE ACTION BROKE BASE UPWARDS. MACD AND RSI TURN BULLISH FROM BEARISH. THIS TRADE HAS A 3:1 R/R. 200 MA MIGHT PROVIDE SOME HEAVY RESISTANCE BUT IF PRICE ACTION BREAKS THROUGH IT, TP WILL BE ATTAINABLE. EXPECT TO HOLD THIS POSITION OPEN FOR A COUPLE OF WEEKS.
It seems like we have just finished Wave 3 from the Elliot wave count. It looks like we started working on wave 4. best way to play it is to take a long position to $5700 price target which using the fibonacci retracement puts it at the .50 extension(very likely to hit it). Also is a strong resistance area. If BTC goes below $3100 it means that we are still...