Hi, from the market view last week we can see the bullish trend has exhausted a bit and now already violating the market structure, looking for bearish setup opportunity.
Market now has filled the previous gap range which is breaking the previous higher low and now has create ne lower lower, again we can see there is a bearish engulfing candlestick signaling the market is seller favors.
Placing Sell Limit at 1.2250 a bit higher or can look for more confluences on smaller timeframe for extra measures, with a tight stop losses we can achieve great risk to reward ratio for this setup.
We may also considering if this level doesn't triggered we can look at the top point of interest level as that area also can our entry point.
Risk to Reward ratio 5:1 or 8:1
Use proper risk management and trade at your own risk.
Goodluck. :D
Market now has filled the previous gap range which is breaking the previous higher low and now has create ne lower lower, again we can see there is a bearish engulfing candlestick signaling the market is seller favors.
Placing Sell Limit at 1.2250 a bit higher or can look for more confluences on smaller timeframe for extra measures, with a tight stop losses we can achieve great risk to reward ratio for this setup.
We may also considering if this level doesn't triggered we can look at the top point of interest level as that area also can our entry point.
Risk to Reward ratio 5:1 or 8:1
Use proper risk management and trade at your own risk.
Goodluck. :D