EUR/USD has completed a 5 Wave structure for Minor Wave A (blue) and now showing good signs that it will most likely retrace on the up-side towards Minor Wave B (blue).
Bearish Volumes are picking up and the Bullish Divergence is a good sign for this set-up.
First Resistance has been breached and a good way to trade this move would be to wait for a Flag Formation on the Channel line.

Low Risk – Good Reward – BUY Scenario:

Entry – 1.06300
SL – 1.06100
TP – 1.07040 & 1.07200

2 Comments

  1. Richard

    Short Trade stopped out due to very tight SL.
    Wave Labeling and Levels Update:

    Conservative Entry – 1.05400
    SL – 1.04800
    TP – 1.07040 & 1.07400



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