Despite being relatively more unpredictable than usual in the past few days, the pair seems to be forming a rising wedge. This is an indication that the strength of the bulls is waning, and that all signs point to an impending downturn for the pair.
However, there are 3 realistic targets that I can see from the chart which makes me a little uneasy about my TP levels. Due to its unpredictability, I will be focusing more on Target 1 (which is very strong here) and then planning accordingly based on price action.
As always, take the necessary precautions when trading!
Setup:
Entry: 1.33354
TP: 1.32952
SL: 1.33464
However, there are 3 realistic targets that I can see from the chart which makes me a little uneasy about my TP levels. Due to its unpredictability, I will be focusing more on Target 1 (which is very strong here) and then planning accordingly based on price action.
As always, take the necessary precautions when trading!
Setup:
Entry: 1.33354
TP: 1.32952
SL: 1.33464