by Sanjay A, November 23, 2021
by Sanjay November 23, 2021
EUR/USD
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Long
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M30
Table of Contents
M30
Elliott Wave
EURUSD broke out of what I believe is a corrective channel and I bought the majority of my position on the backtest. My analysis is based mainly on Elliott Wave but I have left out the labels in this case.
Stop is 1.12258. Target is around 1.1326 to 1.1334 where the 61.8% retracement and the 138.2% extension line up.
I’m risking a very small portion of the account as the risk/reward ratio is very large and because the larger trend in this pair is bearish.
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The trade is not going as anticipated so I’ve essentially closed it out for a tiny profit. I’m holding a small balance with my stop moved up.
Got back in at 1.1236. Stop remains at 1.12258. Very little risk. Updated chart.
Nope. Got stopped out.