Trade Scenario 1: - For us to go long we need to see price breakout of our and above 1.2740. We will then wait for a quick retrace and for 1.2740 to act as support. Enter on strong setups.
Trade Scenario 2 - For us to go short we want to see strong pressure at the top of our channel here pushing price below 1.2720. We can enter aggressively off a strong or wait for aa quick retest of 1.2720 and enter on further setups.