Good afternoon, dear traders! I present to you a trading idea for EURUSD.
After working out our trading idea for a decline, the instrument entered the buying zone of a huge three-wave structure, which can take quotes far beyond 1.3 according to the following scheme:
In fact, we have a three-wave "ABC" structure, where wave A is a long initiative from July 14 to July 20. I propose to consider long positions with a 50% Fibo rollback from current prices according to the scheme presented on the screen above. Risks limit 1.00200. Take profit on the breakdown of 1.03. Or work with risks on smaller timeframes in order to keep longs at 1.03. The trading idea is presented within the "Price Action" and "Stop Hunting" methods. Good luck in trading and control the risks!