There is almost perfect ABCD patter on EURUSD 4H chart. Pair bounced from the strong support around 1.1660. Fridays NFP wasn't good for dollar as far as I can tell.
My Profit target is just below GAP which was created Sunday two weeks ago.
I marked the other GAP from the last week which rejected pair 4th of October(C).
There are three important things which should be taken in consideration.
- will open from Sunday will bring another GAP
- how the pair will act when it will meet 200ema
- how the pair will react to closest GAP
I will update this idea next week.
My Profit target is just below GAP which was created Sunday two weeks ago.
I marked the other GAP from the last week which rejected pair 4th of October(C).
There are three important things which should be taken in consideration.
- will open from Sunday will bring another GAP
- how the pair will act when it will meet 200ema
- how the pair will react to closest GAP
I will update this idea next week.
Trade closed manually
I would close this position with this small profit. It seems to be risky to wait till it will hit desirable TP area.
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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.