EUR/USD approaching potential reversal zone. Watching for confirmation to short from the top of wave C. Target: previous support. #elliottwave #forextrading #eurusd”
Key Takeaways from the Chart:
1. Current Zone (C Wave):
Price is entering the key resistance/supply zone.
C wave completion is expected here (likely the end of the correction).
2. Bearish Reaction Expected:
You're forecasting a potential reversal from this zone.
A short-term retracement or trend reversal is likely, marked by the red arrow.
3. Trade Plan (Based on Idea):
Wait for Price Action Confirmation in the resistance zone (e.g., bearish engulfing, pin bar, divergence).
Once confirmed, look for a short entry with a target toward the yellow support box.
Use tight stop-loss above the resistance zone.
Key Takeaways from the Chart:
1. Current Zone (C Wave):
Price is entering the key resistance/supply zone.
C wave completion is expected here (likely the end of the correction).
2. Bearish Reaction Expected:
You're forecasting a potential reversal from this zone.
A short-term retracement or trend reversal is likely, marked by the red arrow.
3. Trade Plan (Based on Idea):
Wait for Price Action Confirmation in the resistance zone (e.g., bearish engulfing, pin bar, divergence).
Once confirmed, look for a short entry with a target toward the yellow support box.
Use tight stop-loss above the resistance zone.
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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.
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.