This is a trend continuation trade. Price now is facing a resistance structure which is aligning with the 50% fib level of the last selloff leg. Overall trend is bearish so this will be a riding trade wih high reward:risk ratio (the take profit placement is above the support level)
@DzianisBabrou, Stop loss is above the resistance level(Blue Line)
DzianisBabrou
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@EL_KHIBRATTOR, I know) I say that it can catch so close)
EL_KHIBRATTOR
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@DzianisBabrou, Actually it's 36 pips away from current price...Once Price breaks through the resistance level the trade idea will be invalidated.
This setup gives the trade a high reward:risk ratio of 4,97:1