EURUSD wave C at the reversal area

6 november 2015

my elliot wave analysis show that the price are completed its 5 wave cycle.if we look at the higher degree of wave.the price also completed its abc 3 wave movement.

the other clue that i found is the wave are now seems to consolidate at the reversal zone of the previous structure.if we look at the candlestick formation on weekly, the relative candle shows that the candle are exhausted.the previous daily candle also shows that the exhausted candle indication.

besides that, by looking at the stochastic oscillator, the price of eurusd is already in oversold condition.

i will try to find the opportunity to go long for this eurusd as it was analyze in daily chart .the area to look is 1.0870.the stop loss can be place at the area of 1.0745.while the target profit i will take at the resistance area of 1.1100.

i use to put entry with good money management ratio as if i loss, i only loss the half of the trade.if i win, i take it double or triple from that.

good luck!! happy forex trading!

this forex idea was published for the purpose of study only. all the risk taking are at your own responsibility.


A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.