EU bounced as expected in my Previous Analysis (click).
The retrace has been following the fibs quite nicely.
It is now approaching some possible short entry zones.
Looking for an exact rejection from a zone boundary.
1.10633-647 is immediate resistance and could be top of bounce.
1.10739-758 could catch a spike forming a Bull Trap or a Stop Hunt.
1.10859-887 looks to be ideal entry zone with some room till support.
Initial targets will be the green zones below.
Once pullback starts, better targets will appear.
Ideally shorts could ride this to a lower low.
I like to start each trade as a Scalp (small lot, tight stop).
Take some profits at each Support (close 25% of position).
Reshort at resistance, rinse and repeat (until stops get hit).
See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.
Currently in play:
NZD.USD bounce watch
AUD.USD bounce watch
EUR.USD short to long
USD.JPY short to long
Recent Achievements:
EUR.USD short targets (perfect targets)
EUR.USD bounce plot (found last bottom)
EUR.USD short call (in time, to the Pip)
EUR.USD long call (scalp that ran hard)
EUR.USD short Call (perfect top, huge profits)
EUR.USD trend Short (the very tip-top a year ago)
NZD.USD bounce Call (massive profit, no drawdown)
USD.CAD short call (perfect entry, huge profits)
DXY toping call (Upthrust warning just in time)
USD.JPY short to long (recent perfect entries)
AUD.USD trend Short (perfect short a year ago)
XAU.USD top call (exact top pegged)
Silver Bounce scalp (Perfect entry, still in play)
Copper Bounce call (Prefect entry, almost done)
Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.