Could the bounce off 1.4140 see another move up to the 1.44500 area?
The structure forming at the bottom might be suggesting a new pattern forming, but from that support area, it might be worth a long position with a good RR ratio
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I'm scaling in - started at 1.41598 - stop placed at 1.41110. Risk to Reward 5:1
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A bit of a scrambled start but we seem to be off and running... About another 100 pips to reach the 1.4455 - I wonder if we'll get there...
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mmm, so the question now is, will it return back down that channel... Not a bad effort though, following the upward move ...
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AlexBalboa
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i dont think it will bounce, theres a weekly bearish rejection candle in support , this thing might go down to 1.35
The_Duke
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@alexzc636, You could be right mate. I'm into a small profit now after adding to the long position a little lower, so I'll pull the stop up gradually and keep an eye on it. Thanks for your feedback and thoughts.