Hellena | EUR/USD (4H): Long to the resistance area 1.09508.

22 oct

Dear Colleagues. I have redrawn the waves and it seems that the price has not reached the minimum values yet. Apparently wave “4” is the longest correction we have had recently.
According to the data, the price tends to the area of strong resistance at 1.07575. This will be the completion of the corrective wave “C”. Then I would still like to see an upward movement with a renewal of the upper levels. At a minimum, I expect to reach the 1.09508 area.
A more risky entry into a long position is possible - from current levels.
And a more conservative entry is possible - from the area of 1.07575.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

23 oct

Nota

Friends, it turns out that the price still updated the low and is now entering the support area at 1.07713. I expect the price to continue downward movement to reach deeper levels.

24 oct

Operación activa

Colleagues, the price has reached the support area at 1.07713 and at the moment I am starting to consider only long positions. Of course, there is a possibility that the price will update the minimum a little more. Approximately to the area of 1.07500.

25 oct

Operación activa

Colleagues, despite the fact that the price has pushed away from the support area at 1.07713, there is still a possibility of a low update. I consider the possibility of a double bottom at 1.07300 - 1.07500.
But this is not such a distant target that we should not start looking at long positions. Basically, I am already thinking only about long positions.

28 oct

Operación activa

Friends, at the beginning of the trading week I expect certain events, based on which the direction of price movement will be clear. Let me explain what I mean.
The price bounced from the support area and started an upward movement, but now we can see that the bears are still strong.
This means that:
1) It is possible to update the low of 1.07618 and enter a long position
2) the update of the local high at 1.08391 means that the wave “4” is still complete and we can safely expect the scenario to end.

29 oct

Nota

Colleagues, I don't see a strong change in the action plan today. Price is forming a triangle and the plan is the same:
1) It is possible to update the low of 1.07618 and enter a long position
2) the update of the local high at 1.08391 means that the wave “4” is still complete and we can safely expect the scenario to end.

30 oct

Operación activa

The price reached the support area of 1.07713 again and bounced from it. But it has not yet updated the level of 1.08391 and this means that there is another possibility to update the minimum.
But at this stage I prefer to consider only long positions!

31 oct

Operación activa

That's great news! The price broke through the level of 1.08391 and confidently continued the upward movement!
This means that wave “4” is completed and after the correction I expect the upward movement to continue to the target 1.09508.
Very soon, after updating the level of 1.08720 I would recommend that trades should be set trades to breakeven, but about this a little later.

1 nov

Operación activa

Dear colleagues, the price has updated the level of 1.08720 and I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Further I expect to reach the target, probably at the end of this trading week!

5 nov

Operación activa

Colleagues, I believe that there will be no more strong correction and the target will be reached this week.
Of course, we should not forget to set trades to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

6 nov

Operación cerrada: objetivo alcanzado

Well, the goal was reached, after which the strongest downward movement began. But I consider the forecast closed!)