EURUSD broke structure (downtrend) and is consolidating on the tentative upsloper MLH (fork), forming a major bottom with a massive upside potential. The bottom is also the 0.618 fib line of the last major upswing.
Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork.
Trade is Long EURUSD cmp (1.12270)
Stop Loss (Tighter): 1.11606
Stop Loss (Wider): 1.10872
TP 1: 1.20000
TP 2: 1.28000
Wider Stop Loss should be used only if one can afford it, but risk should never be more than 4% of your account.
Thread carefully,
Nick
Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork.
Trade is Long EURUSD cmp (1.12270)
Stop Loss (Tighter): 1.11606
Stop Loss (Wider): 1.10872
TP 1: 1.20000
TP 2: 1.28000
Wider Stop Loss should be used only if one can afford it, but risk should never be more than 4% of your account.
Thread carefully,
Nick
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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.