I believe we are found in a classic ABC correction following a 1-5 motive wave sequence which is why I think the pair has potential for more downside all the way down to 0.71500
I do expect it to come back into the 0.72454-0.72588 region before being triggered into a position towards the short side.
Stay tuned for the updates
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The analysis is made based on order flow using Volume Profile + EW
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
I do expect it to come back into the 0.72454-0.72588 region before being triggered into a position towards the short side.
Stay tuned for the updates
Please follow and leave a like if you enjoy what you see want to see more
The analysis is made based on order flow using Volume Profile + EW
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.