Update: Decided to close first half at 1.3763, second half running for full target, stop remains at breakeven
Update: Reached more than 90 percent of first target, accordingly, I moved stop to breakeven.
Speculating on a wave, as European officials rhetoric has elevated recently regarding a higher exchange rate and the possibility of more easing measures(could be U.S. style ).
Technically, the price is testing a major long term descending resistance(started from 2008 top), meantime price draws a candle on the day chart at an ascending .
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to breakeven
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;),