by Denislav D, March 21, 2021
by Denislav Dantev March 21, 2021
EUR/AUD
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Long
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H4
Table of Contents
H4
Wave Analysis
Major trend wave end and reversal. Beginning of corrective wave, if confirmed planning to maintain long bias till around 1.6000 area. Ideal entry was on Friday around 1.5300 or lower, but don’t know if we will get another chance at that level, I hope so!
Planning to take partial profits 50-75 % around previous pivot point just below 1.5700 and hold the rest till price reaches above major pivot just below 1.6000. Would additional positions once in profits and above 1.5500
use your own I’d start with 1%
Unexpected news from either EU or Australia
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Hi
What is your entry signal?, or are you already in the trade?
Saul,
My original setup was a retracement back to the fresh supply level near the swing low below 1.5300. I missed that entry as well however. I am now waiting for an entry point near those levels and looking for fresh supply. In terms of my trade setup, any entry below 1.54200 would be valid as this is the 0.618 fib retracement on the last major swing high. I’m just hoping to get better price.