Take a look at the chart.. Comments are welcome!
Just take a look at my chart drawing. Enter-reason: clear support-zone (entry zone now), over-all uptrend because this supp zone is formed at 61.8 fib level (not drawn but its a fact), great risk/reward ratio. Target level that high because its the same height that has been occured in the last up-move before so we take that height and place it on our entry level...
We see a typical downtrend-move formed by lower highs and lower lows. For confirmation we have 2 trendlines + fibonacci levels (pervious at 61.8 reversed and now at 38.2) + Doji forming at the current level which indicates weakness by the short-term uptrend so therefore we should see weakness => to the downside. What do you think? Comments are welcome! :)
Trendline + resistance-zone (blue) + 78fib = my sell opportunity Comments are welcome!
see description box on the chart. Comments are always welcome!
Entry is worth it a try. Weekly supp reaced, potential retracement to the upside. Im going in with this awesome risk/reward!
I saw this pattern many times, looks like a downwards move.
Potential fib retracement which happens a lot of times.
EURUSD Potential Long Setup at 61 fib retracement on weekly candle.
Potential setup. Support is broken and waiting for a little retest to previous support which becomes a resistance level @18.4 | Target is around 16.0 where the outer trendline is located. Leave your comments/ideas below. Thanks!