Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
EURUSD retracement to form next leg of the 17 April downtrend
Euro / U.S. Dollar
Long
EURUSD retracement to form next leg of the 17 April downtrend
By DocWonmug
Follow
Follow
Aug 15, 2018
3
Aug 15, 2018
Tweezer bottom and Williams %R crossing above -80 on 4H. Good risk to reward ratio even to 0.236 retracement. Marginal AB=CD, but seems to make sense.
Second target at 0.382 retracement, then look for further downward movement to finish another leg of the confirmed downtrend that started on 17 April.
Alternately it could re-test at 1.1302.
The symmetrical triangle is old news but it did work out correctly.
Let me know your comments
Support and Resistance
DocWonmug
Follow
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
.