Hi-P broker up the resistence zone around 1.20-1.22 on 3rd July and then staged a 2 weeks pullback to test this break up level ("resistence" turned "support"). For those who had been watching this guy, the ideally entry would have been around this support level (which enables a smaller stop loss).
Entering today is late but not if we have the bigger trend in mind. Longed @1.29 with 1/2 size position for now with initial stop loss @ 1.21 (couple of ticks below today's low). Expecting a near term target of at least 1.40-1.45 and eventually 1.60 .
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Entering today is late but not if we have the bigger trend in mind. Longed @1.29 with 1/2 size position for now with initial stop loss @ 1.21 (couple of ticks below today's low). Expecting a near term target of at least 1.40-1.45 and eventually 1.60 .
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.