Basically, Sentiment for the EUR is Short, meaning most people think it will go down, so I'm Long xD another thing, EUR is Strong right now and USD is weak, another reason to go long EURUSD.
Entry. Identify Chart pattern. in this case an impulse wave on the 2h chart xD
plot a fib retracement from start of wave 1(12345) (Elliot wave) and place a limit order at or just before the 38.2% retracement level.( my guess as to where price will bounce, still working on confirmation tactics.) stop loss below 50% retracment.
Exit
correctly plot a fib extension of wave 1(12345) and suppose price will rise to meet the 1.68 extension
risk........ 0.5%
Reward....2.5%
RRR:........1:5
Entry. Identify Chart pattern. in this case an impulse wave on the 2h chart xD
plot a fib retracement from start of wave 1(12345) (Elliot wave) and place a limit order at or just before the 38.2% retracement level.( my guess as to where price will bounce, still working on confirmation tactics.) stop loss below 50% retracment.
Exit
correctly plot a fib extension of wave 1(12345) and suppose price will rise to meet the 1.68 extension
risk........ 0.5%
Reward....2.5%
RRR:........1:5
Comentarios:
I was a little too aggressive with my stop loss. and got stopped out. this was a reduced risk trade however and of course not concerned, and it seems like I moved the market because it took me out and tanked, re-entering either at the completion of wave 3 or after confirmation of the up-move. thinking of using ATR for stop-loss placement.
Comentarios:
i dont think it extraordinary that a another pattern howevert bigger is forming, Its and ABC FlAT.
Operación activa:
I managed to Catch the top of the B Wave from a previous sell opportunity, lucky for me because we expect the completion of the C wave to At least tag the bottom of Wave A. that's when we move our stop.
