Hellena | EUR/USD (4H): Long to Resistance area 1.06197.

26 lis

Colleagues, Price closed the gap and now I believe that wave “C” is almost over or already over.
Therefore, I think that we should look only at long positions with the aim to reach the area of 1.06197.
There are 2 possible scenarios:
1) Wave “C” is finally formed and the price will continue the upward movement. (More risky market entry)
2) The price will still make a small movement to the nearest minimum and here I would recommend placing pending limit orders.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

27 lis

Uwaga

Well, the price is in consolidation and so far I see a small channel 1.04257-1.05435.
I think that now we should watch which level the price will break first.

28 lis

Zlecenie aktywne

Glad to see that price is still in an upward movement. Now the price has almost reached the target area of 1.06197.
I believe that the low of 1.03473 will not be updated.
Due to these thoughts, I conclude that the target will be taken before the end of the week)!

29 lis

Uwaga

The price is updating the local high of 1.05883 again, which means that I recommend to close some positions or I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

3 gru

Uwaga

I want to remind you that the correction may be deeper than that. The most important thing is not to update the minimum of 1.03300, because it will mean that the wave “C” is not over yet and then we will have to make a new forecast with the expectation of a long position. Again)

4 gru

Uwaga

Colleagues, let us look a little more closely at what is happening.
I believe that the price is in an upward five-wave impulse and now we need to determine the corrective wave “2”. But I believe that it is almost over.
This means that the upward movement is likely to continue soon.

5 gru

Uwaga

For quite some time price has been in a sideways movement. It is quite possible that the bulls need to gain strength to reach the target.
Perhaps the price will continue the correction to the area of 1.04200, push from this level and we will see a more confident upward movement.

6 gru

Transakcja zamknięta: osiągnięto wyznaczony cel

Colleagues! Today is the end of the week and I believe that the trade can be closed, because there are only a few pips left to the level of 1.06197 and it makes sense to take your profit.
Of course, you can put the trade to breakeven and wait for the target to be reached. It is quite possible that it will happen today.