📊 EUR/CAD Elliott Wave Analysis 🌊💹
Hey everyone! 👋 Here's my latest chart on EUR/CAD, where I'm eyeing a potential long position based on Elliott Wave theory.
We can see a nice development of waves, culminating in a recently completed corrective wave (4). This setup leads us into an anticipated impulse wave (5). 🚀 Based on Fibonacci projections, I'm targeting three key levels for potential profits:
1. The 0.618 Fibonacci extension at 1.48190.
2. The 1.000 Fibonacci extension at 1.48822.
3. The 1.618 Fibonacci extension at 1.49844. 🎯
These levels could serve as excellent points to consider taking profits if the market momentum supports the upward trend. 📈
Remember, always manage your risk properly. I suggest setting a stop loss just below the recent swing low to protect your position. 🛑
🔍 Let's keep a sharp eye on the market's movement, and happy trading! 💸
We can see a nice development of waves, culminating in a recently completed corrective wave (4). This setup leads us into an anticipated impulse wave (5). 🚀 Based on Fibonacci projections, I'm targeting three key levels for potential profits:
1. The 0.618 Fibonacci extension at 1.48190.
2. The 1.000 Fibonacci extension at 1.48822.
3. The 1.618 Fibonacci extension at 1.49844. 🎯
These levels could serve as excellent points to consider taking profits if the market momentum supports the upward trend. 📈
Remember, always manage your risk properly. I suggest setting a stop loss just below the recent swing low to protect your position. 🛑
🔍 Let's keep a sharp eye on the market's movement, and happy trading! 💸
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