EURUSD Short: Upcoming Correction Possible (Elliott Wave)
Updated
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 1.09361Trade closed: target reached
+39 pips, while only risking 4 pips
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