The pair has been correcting since September of last year, into what appears to be a rather complex structure, but there is evidence making me believe that it could be over, or that we could at least see some upside for the time being.
Reasons to buy:
1) Shooting star on the Daily timeframe
2) At a key price level (look to the left)
3) Daily Stochastic oversold
4) Weekly Stochastic oversold
My personal details:
Long @ Entry: 0.7570, SL: 0.7500, TP: TBD
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Reasons to buy:
1) Shooting star on the Daily timeframe
2) At a key price level (look to the left)
3) Daily Stochastic oversold
4) Weekly Stochastic oversold
My personal details:
Long @ Entry: 0.7570, SL: 0.7500, TP: TBD
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Note
the bigger pictureNote
adjusted view. As it seems we could potentially be in a diagonal with this perspectiveNote
Note
the weekly
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.