Reasons For Trade
for Long Trade entry
for Short Trade Entry
For it has to be below the X point. We see that there is 7200 level too. So stop has to go below that. This increases ours overall risk in trade.
For based short entry the stop has to be above X point however we have another structure high just before that. So we will include that too. We use ATR (at the moment it is 13 pips). So stop = high+atr
For , first target will be at 38.2 retracement and second target will be at 61.8 level.
For first target is 38.2 retracement and second target can be start of the .
For we can be aggressive and front run orders before 0.7220 level.
For wait for market confirmation using Double Top/Over Bought/Bollinger Bands/2618 type of entry technique.
For Gatley pattern there is not much R/R ratio is not good for the first target. As SMAs are just below completion of , price may just come back to retest them and go upwards.
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