EUR/USD Labyrinth, Act 3
Updated
Trading Plan:
Long, entry - 1.1310, SL: 1.1247, TP1: 1.1720, TP2: 1.1842, TP3: 1.1980
Long, entry - 1.1310, SL: 1.1247, TP1: 1.1720, TP2: 1.1842, TP3: 1.1980
Note
Link to article: investing.com/analysis/eurusd-labyrinth-act-3-200351118Trade active
The entry for longs was achieved. The price went as low as 1.1301 on the 31st of October.Trade active
The price returned to 1.1301 area and moved lower into the 1.1240 area. It is a good area to go long at least for 50 pips.Trade active
Looks like the price made a full extension of the 3rd impulse wave, down to 1.1213. It produced a 0.618 Fibo retracement on the weekly chart (low: 1.0399, high: 1.2555). And even if one of the main cardinal rules was broken, the chances are high that the price moves up. In the near term, it might touch the downtrend red line.
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The PA needs an energy drink :)Trade closed manually
See my newest chart:
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of the 5th impulse wave or 3rd motive waveTrade closed manually
Unfortunately, my projection for the corrective wave did not happen, instead, a flat ABCDE corrective wave was produced.
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