According to my wave count I can see the pair edging higher and potentially retesting the 1.8000 level which also acts as a psychological level. We also got a breakout of what seems to be the total / partial correction of wave iv
I would be looking to lock on profits as soon as the price reaches the highs of wave iii in the case that we get a truncated 5th wave or in the case that my count is wrong and we end up seeing wave iv being a flat correction
Apologies for the inactivity as was away on holidays in Italy.
My personal details:
Long @ Entry: 1.7010, SL: 1.6600, TP: 1.8000, RR: 2.41
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
I would be looking to lock on profits as soon as the price reaches the highs of wave iii in the case that we get a truncated 5th wave or in the case that my count is wrong and we end up seeing wave iv being a flat correction
Apologies for the inactivity as was away on holidays in Italy.
My personal details:
Long @ Entry: 1.7010, SL: 1.6600, TP: 1.8000, RR: 2.41
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
