FX.co ★ berta.hill | EUR/USD

Technical analysis - EURUSD. The daily candle from the previous day exactly matches my stretched Fibonacci grid, where the 100 level at 1.14612 coincides with the HIGH, and the fibo with the numerical value 0 at 1.13770 is anchored to the LOW. This Fibonacci construction is enough to build a trading plan for the current day. Having analyzed the position of the market price relative to the fibo grid, I observe it being in the range between 100-1.14612 and 50-1.14191. I get a bullish pattern, and based on it I look for buy entries from this area. There are other levels in this range that I used in my trading. The 61.8-1.14290 and 76.4-1.14413 levels are very precise levels that the market relies on during an uptrend. They can be traded both as bounce and breakout levels. I more often use them for a bounce after a breakout. I set take profit at the 123.6-1.14811 or 138.2-1.14934 levels. Usually at profit levels the market fades, which precedes a reversal, with a tendency to move back to the fibo levels 100-1.14612 and 76.4-1.14413.