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EURUSD - Wyckoff Upthrust - Support/Resistance
Euro / U.S. Dollar
Short
EURUSD - Wyckoff Upthrust - Support/Resistance
By TheSpringHunter
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Updated
Jan 22
2
Cheer
Cheer
Jan 22
Longer term direction:
4H chart is in a downtrend, with a visible Resistance level where we try to enter. Also, the daily chart has 10EMA below 20EMA.
Potential Wyckoff Upthrust with a good Outside bar for entry at the 2H chart that can give an excellent risk-to-reward trade.
Target1 is 1 to 1 move or the nearest low and Target 2 is the 161% Fibonacci extension.
If you close half at 1 to 1 and then leave a runner for the 161% Extension - you'd have 3.5 RR.
Jan 22
Comment
1 to 1 target was reached, but as it's noisy if the stop loss was moved to breakeven you were stopped out. Therefore making 0.5 R in this trade.
For those of you keeping the stop at entry - you are still in the game for a runner.
AB=CD
candlesticksignals
Fibonacci
Support and Resistance
upthrust
TheSpringHunter
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