Weekly timeframe is usually used for analysis and eventual prediction of the move. However, the weekly timeframe can also be used for trading as any other time frame.
EUR/USD Technical Analysis
88.6 Fib bounce
Good R:R
M H5/Q H4 is the target
Weekly Chart EUR/USD
Swing 1
Swing high
Bounce zone
Target
Weekly timeframe is usually used for analysis and eventual prediction of the move. However, the weekly timeframe can also be used for trading as any other time frame. The difference is that trades will take a longer time to develop. I have noticed a chance for a good r:r trade as long as the price is kept avoe 1.0900-1.1000 zone. 88.6 bounce could be targeting 1.1325, 1.1413 and 1.1610. Everything is shown in the chart as the price progresses and my account is already 30 % in profits due to running trades.
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