Trading Idea: Long Position on EURUSD
This chart illustrates a short position on EURUSD, capitalizing on Fibonacci Retracement and Order block
Analysis:
• Market Structure: The overall market structure is in bullish mode.
• Fair Value Gap: With recent breakout (both internal and external), the market created fair value gap, hence we expect retracement to fill that gap before giving further breakout.
• Fibonacci Retracement: We expect the market to retrace to the Fibonacci Golden level of 61.8%
• Order Block: We can also place another limit order near the Order Block.
Trade plan 1:
• Entry: 1.13705
• Stop Loss: 1.13144
• Take Profit: 1.15733
• Risk-Reward: 1:3.5
Trade plan 2:
• Entry: 1.2922
• Stop Loss: 1.1239
• Take Profit: 1.14082
• Risk-Reward: 1:2
Disclaimer: The information provided here is for educational purposes only and does not constitute financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Always do your own research and consult with a licensed financial advisor before making any trading decisions. The author is not responsible for any losses incurred as a result of using this information.
This chart illustrates a short position on EURUSD, capitalizing on Fibonacci Retracement and Order block
Analysis:
• Market Structure: The overall market structure is in bullish mode.
• Fair Value Gap: With recent breakout (both internal and external), the market created fair value gap, hence we expect retracement to fill that gap before giving further breakout.
• Fibonacci Retracement: We expect the market to retrace to the Fibonacci Golden level of 61.8%
• Order Block: We can also place another limit order near the Order Block.
Trade plan 1:
• Entry: 1.13705
• Stop Loss: 1.13144
• Take Profit: 1.15733
• Risk-Reward: 1:3.5
Trade plan 2:
• Entry: 1.2922
• Stop Loss: 1.1239
• Take Profit: 1.14082
• Risk-Reward: 1:2
Disclaimer: The information provided here is for educational purposes only and does not constitute financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Always do your own research and consult with a licensed financial advisor before making any trading decisions. The author is not responsible for any losses incurred as a result of using this information.
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.