Please note the following rules below for entry to the upside:
Price action remaining above the 200 and the red horizontal
Price action breaking above the 1.47500 level of short term resistance to the upside and preferably closing above this level
Enter on momentum above 1.47600
Profit whatever you can get, but the 1.48400 level is the target for this move to the upside
Stops at around 1.45900 to be protected by the monthly support but carries a larger risk (set size accordingly for the large risk) 1.46400 could be a stop for those who want to hold a tighter stop.
This trade will lose its potential if the first rule becomes no longer applicable. For example if momentum pushes price action substantially below the 200 and red horizontal .
You will find that my style of trading often holds a greater risk than reward, however the potential of price action moving in the favor of my position where profit can be liquidated and banked before price action moves against me is very high when the rules are followed.
If you find yourself liking my style of trading please feel free to follow me as I will post potential trades like this rather frequently.