We could see that the EURUSD broke out of a long downtrend and has started forming higher lows and higher highs. This is evidence of price turning around and picking up bullish momentum. We are looking for a new low to form for our entries going forward. The stop loss is under the previous low, because if price goes past that area that is forming a new low which is an indicator of reversal. The trade has a safe stop loss and the take profit is achievable. The 1:3 Risk:Reward Ratio helps if you have a consistent low win rate.