The pair has broken the long term down trend and have retested it and and is bouncing off again providing us with an opportunity to go short.
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what is your estimated profit target? 1.2828 where the former consolidation in spring 2015 has its upper sideways channel border? if you take this as a realistic target you could even place the stopp above 1.46 and have some 1:1 risk:reward ratio... is it realistic?
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that was nonsense. it is not 1:1 when stopp would be far at 1.46 sorry.
but the mentioned support structure looks good to me....
but the mentioned support structure looks good to me....
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well I wouldn't take a 1:1, perhaps no harm in placing your stop above the smaller degree corrective top and aim for at least 1:2
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