The Euro has completed potentially a 5 wave down structure.
We have bearish sentiment and an RSI divergence as confirming factors. Also today's candle is an inverted hammer (candlestickforum.com/PPF/Parameters/16_475_/candlestick.asp)
Technically there is still missing wave (iv) and (v) of one lesser degree but in my experience it is better not to try to be too precise. The last 2 waves may never come (or you can always retroactively fit them in the pattern later)
In summary: enter with 50% position now. Add the rest on your discretion and according to trading strategy.
Target: 1.18-1.20
Stop: 1.06-1.04 (Choose stop according to trading strategy and percentage of capital risked)
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Join me on my blog:
highprotrading.com - A diary style blog focused on risk management, emotional aspects of trading and best practices where I follow a live portfolio, list all trades, and track its performance through time.
Thank you,
HighProTrading
Blog: highprotrading.com
Twitter: twitter.com/HighProTrading/
StockTwits: stocktwits.com/HighProTrading
We have bearish sentiment and an RSI divergence as confirming factors. Also today's candle is an inverted hammer (candlestickforum.com/PPF/Parameters/16_475_/candlestick.asp)
Technically there is still missing wave (iv) and (v) of one lesser degree but in my experience it is better not to try to be too precise. The last 2 waves may never come (or you can always retroactively fit them in the pattern later)
In summary: enter with 50% position now. Add the rest on your discretion and according to trading strategy.
Target: 1.18-1.20
Stop: 1.06-1.04 (Choose stop according to trading strategy and percentage of capital risked)
--------------------------------------------------------------------------------------------------------------------------------------------------------------
Join me on my blog:
highprotrading.com - A diary style blog focused on risk management, emotional aspects of trading and best practices where I follow a live portfolio, list all trades, and track its performance through time.
Thank you,
HighProTrading
Blog: highprotrading.com
Twitter: twitter.com/HighProTrading/
StockTwits: stocktwits.com/HighProTrading
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.