The price has reached to the support and it is likely to bounce from here. Therefore, a long is favorable here. The target for the long trade should be 7.19. If this support is lost then the price is likely to head to daily support DS1 and then a long can be taken from there.
Note
Closed half the position at 2% profit. Rest I will close on the target. Securing profit this way, keeps the risk minimal and the trade stress free allowing to add again if the price looks favorable to move in the trade direction.
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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.