Entry to go long will be at point C of the second AB-CD pattern, which is also the support neckline, at price 0.7260.
Target to take profit would the Head-Neck distance and also the 2.24 CD extension at around
Keep an eye on the 3 indicators, wait for all three to reach the Overbought zone, which should fall around around the entry price anyway.
In this instance, price should went bullish as it broke out of the neckline, so a stop loss would be put just under the neckline, typically 10-20 pips depending on currency volatility. Giving a Risk:Reward ratio anywhere from 3:1 to 10:1
I generally use a R:R of 3:1 on daily trades with 60 TP - 20 SL.
And sometimes 10:1 for big trend reversals at 150 TP - 15 SL