This a pair that i recent got into my watchlist. I entered long at 1.6374 and i exit the trade at 1.6510
I am now looking to get back in again into the long side. Some clues give me some beliefe building to support my ideia.
1. Price has been consolidating at a strong resistence level and bulls have been able to keep price at this level.
2. Some candle stick patterns ( inside bar cluster) tells me that we can go either direction. However i will play the long side for now. I will place a buy stop order with a stop loss in the middle of the inside bar mother candle and my target is the 1.6692
This way i can get a decent good risk reward ratio
I am now looking to get back in again into the long side. Some clues give me some beliefe building to support my ideia.
1. Price has been consolidating at a strong resistence level and bulls have been able to keep price at this level.
2. Some candle stick patterns ( inside bar cluster) tells me that we can go either direction. However i will play the long side for now. I will place a buy stop order with a stop loss in the middle of the inside bar mother candle and my target is the 1.6692
This way i can get a decent good risk reward ratio
Trade active
Trade closed: target reached:
This one was fast !!