Wait for Completion of Wave B:
Monitor if price shows rejection or reversal signs (like bearish engulfing, shooting star, etc.) near the recent high.
2. Entry for Wave C:
Once reversal is confirmed from the top of Wave B, you can:
Enter a Sell trade targeting the red zone (1.06924 to 1.06700 area).
Use confirmation from 1H or 30min timeframes (bearish structure, momentum loss).
3. Stop Loss Placement:
Place SL just above the high of Wave B.
Example: If B ends around 1.0990, keep SL near 1.1005.
4. Take Profit:
TP in the middle to bottom of the red zone (1.0700 – 1.0670).
---
Optional Smart Additions:
Use Fibonacci retracement on wave A to confirm wave B top (61.8%–78.6% is common).
Watch news events around April 10–12 (shown in icons), could bring volatility.
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Monitor if price shows rejection or reversal signs (like bearish engulfing, shooting star, etc.) near the recent high.
2. Entry for Wave C:
Once reversal is confirmed from the top of Wave B, you can:
Enter a Sell trade targeting the red zone (1.06924 to 1.06700 area).
Use confirmation from 1H or 30min timeframes (bearish structure, momentum loss).
3. Stop Loss Placement:
Place SL just above the high of Wave B.
Example: If B ends around 1.0990, keep SL near 1.1005.
4. Take Profit:
TP in the middle to bottom of the red zone (1.0700 – 1.0670).
---
Optional Smart Additions:
Use Fibonacci retracement on wave A to confirm wave B top (61.8%–78.6% is common).
Watch news events around April 10–12 (shown in icons), could bring volatility.
---
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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.
Related publications
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.