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.
Comment:
The setups posted here are not trade calls and are intended for informative purpose only. I am unable to post everything here due to lack of time, if you would like to get all my setups together with exact entries and exits with please visit http://www.thepiphunter.com and subscribe.
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?
Reply
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....
Reply
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
Reply