EURUSD's daily candle closed above the 5 EMA on Friday, August 11th. Therefore, I think it will close above the 5 EMA again.
I will use fibs and fib extensions for order placement. Fib extensions range betwwen -4.236 and 4.236.
Each fib line will contain 2 trades. One trade will have a 20 pip stop and a 60 pip take profit target. The second trade will have a 20 pip stop and no take profit. I plan to hold those with no take profit target for about 3 - 4 days.
Risk per trade is 0.5% of week beginning account balance.
Reward for each 60 pip take profit target is 1.5% of week beginning account balance.
I will use fibs and fib extensions for order placement. Fib extensions range betwwen -4.236 and 4.236.
Each fib line will contain 2 trades. One trade will have a 20 pip stop and a 60 pip take profit target. The second trade will have a 20 pip stop and no take profit. I plan to hold those with no take profit target for about 3 - 4 days.
Risk per trade is 0.5% of week beginning account balance.
Reward for each 60 pip take profit target is 1.5% of week beginning account balance.
Note
Bullish signal on 30 minute chart.
Looking for bullish signals on 1 minute chart.
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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.