The price action is following in a parallel channel. Lower channel range lies around 117.50 from where a possible pull back can be expected. For swing trading setup, long position can be consider on the test of lower parallel channel with the stop loss at 115 and possible target for long term can be expected around 130. On the other hand, the price is making higher highs and higher lows within the channel, so scalping trade can be possible with entry around 120 for the target of 125 and 128.
Swing Setup:
Entry: 117.50
Target: 130
SL: 115
Scalping Setup:
Entry: 120.50
TP1: 125
TP2: 128
SL: 119
Swing Setup:
Entry: 117.50
Target: 130
SL: 115
Scalping Setup:
Entry: 120.50
TP1: 125
TP2: 128
SL: 119
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.