I have no actual experience on Forex trading and i am NOOB Analyst but here is a simple Analysis i just made in 2 min on the 4hr Timeframe EU/USD.
You can see it is now testing the 0.5 level, which may continue to the 618, 0 (for a double top to DUMP again) or all the way up to 1.11 area.
Just check the pic and you'll see the fib targets in the proper colours.
It's intentionally very simple and short description.
MAKE IT OR BREAK IT GUYS! Your criticism is my learning curve.
Let it be Positive and Constructive[\b] though! This is just my start.
You can see it is now testing the 0.5 level, which may continue to the 618, 0 (for a double top to DUMP again) or all the way up to 1.11 area.
Just check the pic and you'll see the fib targets in the proper colours.
It's intentionally very simple and short description.
MAKE IT OR BREAK IT GUYS! Your criticism is my learning curve.
Let it be Positive and Constructive[\b] though! This is just my start.
Trade active
The DUMP before hitting the .618 fib concerns me a little bit, this looks like an indication of a continuation of the downtrend from here. But this is FOREX, not Crypto, So i don't know how this will play out, FOR ME AS A BEGINNER wit h already SOME trading experience (in Crypto), this is a moment of Caution where i would WATCH to see if i should exit my long or just wait for it to test (or break) the .618 fib. Considering all the tarrif implications and stuff, i would keep my bias LONG! As I interpret Trump-administration Economic actions to affect the dollar Negatively. (Though i am not well-versed in News-interpretations yet)
Thanks for following guys 🤞
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.