Dear colleagues, price is still in an uptrend, but wave “5” is often unpredictable, so I do not recommend buying.
I will look out for short positions. I believe that the price can renew the high and reach the area of 1.10000 or even a little higher, but I will place pending limit orders to sell.
Or the price will immediately start a downward movement.
The target is the support area at 1.07279.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I will look out for short positions. I believe that the price can renew the high and reach the area of 1.10000 or even a little higher, but I will place pending limit orders to sell.
Or the price will immediately start a downward movement.
The target is the support area at 1.07279.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
There may be no update of the high. In this case, I expect the correction to be completed in the target area. But I will not cancel limit orders at the upper levels, because we should always be ready for the wave “3” to continue.
Note
This week, I expect price to end the upward movement towards the 1.10000 area and start the downward movement. I remind that 1.10000 level is a strong psychological level and the reaction from it should be strong.
Note
It looks like wave “4” is over at 1.08233 and that means I expect an update of 1.09490 (the high of wave “3”). And this will mean that the five-wave upward impulse in wave “3” of the higher order is over.Note
I think that the price will still go higher to the area of 1.10267, but I recommend you to look at short positions, unless you have placed pending limit orders in advance. If you have placed them in advance, then everything is going according to plan. Trade closed: target reached
The price has updated the local low of 1.08238 and I think it is worth closing some positions or should set trades to breakeven. (Breakeven=Risk Free: Move Stop loss to the entry level).There is a great possibility that the price will again try to reach the area of 1.10267.
Note
Colleagues, the price has almost reached the target, I hope you should set trades to breakeven.Note
Well done!
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✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader
🌅 INSTAGRAM: instagram.com/hellena_trader
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.