yellow area shows possible area of reversal, indicating short opportunity.
indicators:
bat completion at 1,618
fib confluence ( extensions and inversions)
structure (resistance levels), the 2 highest levels are waiting for their 3th hit
ABCD completion
SL should be placed above structure level, preferable arround 1.150 even, green area shows maximum...
According to Bill Williams trading system,
we are seing a Bullish Divergent Bar with angulation,
Elliott waves count is setting-up the target @ the last high (probably a weak wave 5 because wave 3 is Huge)
Risk: 0,5%
Reward: 6%
R/R ratio: 12