EU Descending Channel is almost done
With EURUSD's descending channel almost done, we can expect a bullish run. The overall long term plan is to reach a level of 1.22 before a major correction would happen; however, using an Elliot Wave provides a more realistic approach and as seen in the chart, I have already plotted the TP areas both for correction and impulse. It should also be taken into consideration that Wave E of the Elliot Wave may be higher since data gathered was that of a few months back and by definition, a descending channel should have a longer or higher level of bullish run after coming from a short term bearish run.
My personal entry: 1.13120
TP area: 1.13700 - 1.13850
Cut-loss: 1.12900
Risk only 1% of your port so adjust your cut-loss depending on the lot(s) you throw and margin.
Disclaimer: This is only for educational purposes. I am not a certified financial analyst or whatever since I belong in the medical field but I do hope you like my idea. Thank you and hope to read from you too!
My personal entry: 1.13120
TP area: 1.13700 - 1.13850
Cut-loss: 1.12900
Risk only 1% of your port so adjust your cut-loss depending on the lot(s) you throw and margin.
Disclaimer: This is only for educational purposes. I am not a certified financial analyst or whatever since I belong in the medical field but I do hope you like my idea. Thank you and hope to read from you too!
Disclaimer
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