As we can see on the chart, there is a Falling Wedge in one day time frame. It has three upper touches and two lower touches in the upper trendline and the lower trendline respectively. Also, the current price has not broken the upper trendline yet, so we must wait it to happen with a confirmation and set a long position.
The price target or take profit can be placed at 6.9132 approximately and the stop loss can be settled just below the most recent swing low within the wedge (it is similar to the vertical distance of the highest maximum of the wedge).
The price target or take profit can be placed at 6.9132 approximately and the stop loss can be settled just below the most recent swing low within the wedge (it is similar to the vertical distance of the highest maximum of the wedge).