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| EUR/USD 4 Hour |
It's been a while since my last post.. I've been watching this chart, this 4 hour chart caught my eye, a typical potential abc formation and it did form an abc formation. Started with a divergence (end of a trend) then price go down (wave a), after that you want to wait for price to retrace back close to its previous high and watchout for a bearish divergent bar or other sell setup..
Zoom out to smaller timeframe to get tighter stop and a better entry
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| EUR/USD Hourly |
Price retraced to 79 % fibonacci level and form a railway track candlestick formation, price try to get higher but got rejected.
Enter buy at 1.3266, Stop Loss 1.3286 (-20 pips risk), Closed all position at 1.3176 for 90 pips profit..
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