Hi Traders!
The market was ranging between the Levels 121.200 and 120.300.
Then it broke out on the 12th November downwards.
The market retested the area, but it failed to make a downmove with momentum.
Luckily the market formed a trendline. We now can trade on this base:
If the market breaks out of the trendline, we have a good risk-to-reward ratio of 2.5.
We recommend to sell the breakout and close the trade on 118.250
Thanks and good luck :)!
The market was ranging between the Levels 121.200 and 120.300.
Then it broke out on the 12th November downwards.
The market retested the area, but it failed to make a downmove with momentum.
Luckily the market formed a trendline. We now can trade on this base:
If the market breaks out of the trendline, we have a good risk-to-reward ratio of 2.5.
We recommend to sell the breakout and close the trade on 118.250
Thanks and good luck :)!