EURUSD LONG AT 1.18597 - SL-1.18249 TP-1.2000
THIS PARTICULAR TRADE CARRIES A HIGHER LEVEL OF RISK AS IT IS COUNTER TREND. HOWEVER, IF THE ELLIOT WAVE ANALYSIS IN MY PREVIOUS POST STANDS TO BE TRUE, THEN WE CAN EXPECT A CORRECTION OF THIS BEARISH IMPULSE AT THIS LEVEL.
REASON FOR THE TRADE (TECHNICALLY):
1) ELLIOT WAVE ANALYSIS
2) STRONG PREVIOUS SUPPORT
3) 61.8 RETRACEMENT OF THE CD LEG OF THE COMPLETED ABCD PATTERN.
4) SUPPORT AND TREND LINE CONFLUENCE
GOOD LUCK
THIS PARTICULAR TRADE CARRIES A HIGHER LEVEL OF RISK AS IT IS COUNTER TREND. HOWEVER, IF THE ELLIOT WAVE ANALYSIS IN MY PREVIOUS POST STANDS TO BE TRUE, THEN WE CAN EXPECT A CORRECTION OF THIS BEARISH IMPULSE AT THIS LEVEL.
REASON FOR THE TRADE (TECHNICALLY):
1) ELLIOT WAVE ANALYSIS
2) STRONG PREVIOUS SUPPORT
3) 61.8 RETRACEMENT OF THE CD LEG OF THE COMPLETED ABCD PATTERN.
4) SUPPORT AND TREND LINE CONFLUENCE
GOOD LUCK
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