As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1055. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1105. TP4: R2=1.113. Set the stoploss of these orders at breakout of S2=1.104.
Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.104. In this situation, there is an expectation to reach the target S3=1.097. Set the stoploss of reverse orders at breakout of S1=1.1055.
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