🔍 Bias: Bullish continuation (Wave 5 setup)
📌 Key Confluences:
Wave (4) is retracing into a key demand zone with strong volume support.
Price is approaching the 71% Fibonacci retracement, a proven institutional entry level.
Ichimoku cloud is holding as dynamic support.
Wave (5) projection targets 1.1550–1.1600 zone (Swing Range).
🎯 Trade Idea:
Buy EUR/USD between 1.1280 – 1.1320
Stop Loss: Below 1.1220 (invalidates wave count)
Take Profit: 1.1550 (1:3+ RR)
⚠️ Risk Note: Confirmation via bullish engulfing candle or volume spike would increase the entry's conviction.
This setup offers strong confluence for a wave 5 rally, making it a high-probability long trade toward the upper swing range.
Follow along for more setups
📌 Key Confluences:
Wave (4) is retracing into a key demand zone with strong volume support.
Price is approaching the 71% Fibonacci retracement, a proven institutional entry level.
Ichimoku cloud is holding as dynamic support.
Wave (5) projection targets 1.1550–1.1600 zone (Swing Range).
🎯 Trade Idea:
Buy EUR/USD between 1.1280 – 1.1320
Stop Loss: Below 1.1220 (invalidates wave count)
Take Profit: 1.1550 (1:3+ RR)
⚠️ Risk Note: Confirmation via bullish engulfing candle or volume spike would increase the entry's conviction.
This setup offers strong confluence for a wave 5 rally, making it a high-probability long trade toward the upper swing range.
Follow along for more setups
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.
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.