The price is just too strong for levels 1 & 2.
Will continue to watch the price in between 2 , 3 & 4 levels where probably hold as high value area to short.
This is a countertrend. The price reached to somewhere where buyers might start shelling their profit and sellers might push down further.
We have targets around 1.680 and 1.670 levels.
Countertrend to Trend Follow Trade plan:
If you take a trade in between these levels mentioned above we would suggest to execute your trades in tranche that is if your mindset is to follow the trend.
Unload or take profit half of your position while the remaining position can be use to hedge or a shield if you add position when it is going to breath and continue to fall.
Use trail stop for your remaining position and this should be equal or more compare to risk if you add position along its way down.
; Profit for Balance position =/> Risk or SL to new positions
The idea is to stay on the trend with minimal exposure or to zero risk while building position on its way down to maximize the profits.
Caveat.
Will continue to watch the price in between 2 , 3 & 4 levels where probably hold as high value area to short.
This is a countertrend. The price reached to somewhere where buyers might start shelling their profit and sellers might push down further.
We have targets around 1.680 and 1.670 levels.
Countertrend to Trend Follow Trade plan:
If you take a trade in between these levels mentioned above we would suggest to execute your trades in tranche that is if your mindset is to follow the trend.
Unload or take profit half of your position while the remaining position can be use to hedge or a shield if you add position when it is going to breath and continue to fall.
Use trail stop for your remaining position and this should be equal or more compare to risk if you add position along its way down.
; Profit for Balance position =/> Risk or SL to new positions
The idea is to stay on the trend with minimal exposure or to zero risk while building position on its way down to maximize the profits.
Caveat.