EURUSD Trade Review
- Overall (1hr) uptrend, looking for bullish entry.
- The Fibonacci retracement tool drawn on the chart indicates that the price retraced to the 50% level before continuing upward.
- FVG created by the fall is also added confluence as price will want to fill this gap.
- Entry: Grey high probability reversal zone at bottom, where buyers stepped in strongly after the previous short term fall. (Waited for confirmation)
- The target was set at a previous resistance area, looking to capitalize on a full reversal of the prior short term fall. Hunting highs.
- This can also be viewed as an AMD setup.
- The Fibonacci retracement tool drawn on the chart indicates that the price retraced to the 50% level before continuing upward.
- FVG created by the fall is also added confluence as price will want to fill this gap.
- Entry: Grey high probability reversal zone at bottom, where buyers stepped in strongly after the previous short term fall. (Waited for confirmation)
- The target was set at a previous resistance area, looking to capitalize on a full reversal of the prior short term fall. Hunting highs.
- This can also be viewed as an AMD setup.
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