EURUSD broke structure (downtrend) and is consolidating on the tentative upsloper MLH (fork), forming a major bottom with a massive upside potential. The bottom is also the 0.618 fib line of the last major upswing.
Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork.
Trade is Long EURUSD cmp (1.12270)
Stop Loss (Tighter): 1.11606
Stop Loss (Wider): 1.10872
TP 1: 1.20000
TP 2: 1.28000
Wider Stop Loss should be used only if one can afford it, but risk should never be more than 4% of your account.
Thread carefully,
Nick
Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork.
Trade is Long EURUSD cmp (1.12270)
Stop Loss (Tighter): 1.11606
Stop Loss (Wider): 1.10872
TP 1: 1.20000
TP 2: 1.28000
Wider Stop Loss should be used only if one can afford it, but risk should never be more than 4% of your account.
Thread carefully,
Nick