Don't miss this trade as, if it is commencing now like it seems to be doing, it will take the pair to the 1.10 area, making it an excellent R/R trade with a fantastic profit opportunity.
On a practical level, we believe that the downtrend will be confirmed on the break of the lower of the the pair has formed on the . Therefore, following this conservative approach, we should wait for this first impulse to the downside to correct itself around the aforementioned , with a 4hr or 60min flag to the upside, and sell the break of said correction with a stop loss above it.
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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
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