This looks nice, let's see, Caught an entry long FX:EURUSD post NYSE Open @ 15:54 PM UTC+2/GMT+2, The chart shows you what I'm thinking is the most probable in the short term. @WickedFx
30 min FVG traded into, 1 min shift in structure, 61.8 fib hit, targeting buy side + 1 hour fvg @ 1.077
As you can see the power of 3 rules apply, let's see if it works out!
Price broke the 37 year low and is now trading into this daily FVG (fair value gap) which coincides with a 62% (61.8) Fibonacci level from the swing high to the swing low, i believe the strength in the dollar and weakness in the pound is not over yet and we could soon see this pair trading at parity
This is the movement I'm anticipating for next week, however my view will change day to day. WickedFx
Market broke structure and then retraced into a FVG, taken long position and aiming for the next FVG on the higher timeframe
This is not set in stone, I'm looking to get people's thoughts on this idea for next week, please feel free to share what you think of this or how you would approach it differently. I've tried to incorporate all the confluences I use excluding the recent ECB rate hike
We see some divergence on the RSI after three consecutive lower lows on the chart. Considering how the monthly candle might close this could be the push that makes the high of the next monthly candle before the downtrend continues. The 1st target is the FVG around the 61.8 fib retracement
The 80 fib retracement and FVG hit expecting dollar to strengthen further Wickedfx
After today's movement and a look at the dollar index it seems dollar is set to weaken before continuing higher, I'm looking for EU to trade into this area then take out last week's high into some higher timeframe FVG WickedFX
Trade back into the FVG and the expansion to the HTF FVG WickedFX
I'm anticipating movement like this next week for a final corrective wave C leading to the longer term buys linked below
Wave 1 is complete and now we wait for wave 2 to complete at which point I will be tagged into these trades depending on where wave 2 terminates. WickedFx