The final retracement wave (BC) of the bearish Downtrend generated from 4 hours time frame is forming now and the first wave of this bullish wave formed and now the retracement of this first wave is going to be formed at (38.2%) Fibonacci level , which will be the BC segment of the bearish butterfly pattern and it will gives the chance to buy at this level (1.13437) and testing this support level.
Target profit I do prefer to take your first target profit @ 61.8 % Fibonacci level (1.13956) and for the second target profit @ the resistance level (1.14573) .
Stop lose I do prefer to put it below 78.6% Fibonacci retracement level of (ab) segment or as per your risk management plan.
Conclusion
Buy @ 1.1344
Target profit 1 @ 1.13956
Target profit 2 @ 1.14573
S/L below (1.12945)
Target profit I do prefer to take your first target profit @ 61.8 % Fibonacci level (1.13956) and for the second target profit @ the resistance level (1.14573) .
Stop lose I do prefer to put it below 78.6% Fibonacci retracement level of (ab) segment or as per your risk management plan.
Conclusion
Buy @ 1.1344
Target profit 1 @ 1.13956
Target profit 2 @ 1.14573
S/L below (1.12945)
Kommentera:
Sell when reach point D @ 1.1480 , tp @ 1.. 1.1415 , sl @ 1.1508
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