EURUSD Support n Resistance 081011 (update)
We're expecting the current market price to rise to the Fib61.8 area (1.1025+) for confluence with Resistance and at the same time take out SL(es) placed there.
Thereafter we'll monitor PA for a Short down to previous designated TP (orange line(zone)) which is the confluence area of various Fibs and resistances.
This is an extension and also an update to the previous trade plan. Will add on to current sells if movement up and PA at that area is in sync with our method.
Thereafter we'll monitor PA for a Short down to previous designated TP (orange line(zone)) which is the confluence area of various Fibs and resistances.
This is an extension and also an update to the previous trade plan. Will add on to current sells if movement up and PA at that area is in sync with our method.
Trade closed: stop reached:
SL Hit. Short term trend has changed.
Note -
HTF still bearish.
Prices took out a previous Lower High,
Prices rejected a horizontal structural resistance and is retracing to neckline of W.
Next impulse leg will begin at the current level
Note -
HTF still bearish.
Prices took out a previous Lower High,
Prices rejected a horizontal structural resistance and is retracing to neckline of W.
Next impulse leg will begin at the current level
Thank you for your eyetimw!