Hello everyone,
In the middle of the week it became apparent that EURUSD is also forming a triangle during its correction.
It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear.
I've already shorted this pair hours ago when it got rejected off the upper trendline, but I'm sharing this idea now because I feel there is still time to short this pair even after the breakout of the triangle.
Now if it breaks out to the downside (as I hope so), it's going to form the third wave of its minute degree bearish wave.
So it's going to be a big fall.
For the stop loss and targets on this trade I'm going to use the old methods of pattern trading.
So the stop would be above the e wave and the target would be equal to the upright side of the triangle.
Stop @ 1.2493
Target @ 1.2274
Happy trading :)
In the middle of the week it became apparent that EURUSD is also forming a triangle during its correction.
It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear.
I've already shorted this pair hours ago when it got rejected off the upper trendline, but I'm sharing this idea now because I feel there is still time to short this pair even after the breakout of the triangle.
Now if it breaks out to the downside (as I hope so), it's going to form the third wave of its minute degree bearish wave.
So it's going to be a big fall.
For the stop loss and targets on this trade I'm going to use the old methods of pattern trading.
So the stop would be above the e wave and the target would be equal to the upright side of the triangle.
Stop @ 1.2493
Target @ 1.2274
Happy trading :)
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.