Based on structure we can see a down trend in this pair as we are creating Lower Highs and Lower Lows
We are now at the point where the previous high is tested. Also at this level we have a nice fibonacci cluster of the last 3 moves down. All of this for me points in the direction that the pair will move down.
Entry : 0.7165
SL : > 0.7200
Target : 0.7060
Potential risk : +- 35-40 pips
Potential profit : +- 100 pips
Reward-Risk : > 2.5
We are now at the point where the previous high is tested. Also at this level we have a nice fibonacci cluster of the last 3 moves down. All of this for me points in the direction that the pair will move down.
Entry : 0.7165
SL : > 0.7200
Target : 0.7060
Potential risk : +- 35-40 pips
Potential profit : +- 100 pips
Reward-Risk : > 2.5
Trade active
Stops rolled to break evenNote
Stops moved to 0.7140Note
Stops moved to 0.7110, just a few more pips to go to the target.Trade closed: target reached
Target reached, trade closed for +109 pips
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
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.
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
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.