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EURUSD Short: Upcoming Correction Possible (Elliott Wave)

Short
Euro / U.S. Dollar (FX:EURUSD)  
glennmercer Updated   
FX:EURUSD   Euro / U.S. Dollar
EW Elliott Wave elliottwaveretracement EURUSD glennmercer gmercerfx correction wave4support previousfourthwavesupport retracement euro
11
0
ew elliottwaves elliottwaveretracement eurusd glennmercer gmercerfx correction wave4support previousfourthwavesupport retracement euro
EURUSD has completed a series of bullish impulse moves and may be ready for a 38.2% correction down to fourth wave support. To add to the possibility of a correction, wav e1 price range is approximately equal to that of wave 5. Daily trendline support sits above wave 5 peak. Entry was placed at the close of previous candle with SL above wave 5 and target at .382 retracement level. This is an 8.86 R/R trade.
Trade active
Comment:
Moved SL to B/E at 1.09361
Trade closed: target reached:
+39 pips, while only risking 4 pips

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