EURUSD - Short opportunity
Hello,
EURUSD's right side of the market is down. At this moment, it is inside a corrective cycle from Sep-22.
This correction has an abc structure, and we expect it to reach the green zone before turning down and continuing the USD strength cycle.
Therefore we can sell EURUSD once the price reaches the IZ (green area) having as a target, at least, the 0.9555 level.
Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage”
The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction))
Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade.
Have a safe and profitable trading day
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
EURUSD's right side of the market is down. At this moment, it is inside a corrective cycle from Sep-22.
This correction has an abc structure, and we expect it to reach the green zone before turning down and continuing the USD strength cycle.
Therefore we can sell EURUSD once the price reaches the IZ (green area) having as a target, at least, the 0.9555 level.
Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage”
The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction))
Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade.
Have a safe and profitable trading day
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Trading the Right Side team
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All our links: bit.ly/m/TRS
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Disclaimer
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