With the approach to the upward support level, long positions can be opened with a target in the area of 1300. I do not like the price dynamics at the moment of breaking up the resistance level. A short stop can make a profit in case the upward movement does not develop in the area of 1300. But for such a scenario it will be necessary to track the situation inside the day.
Note
Two opposite scenarios at least require a good profit factor. :)
Note
Possible downward resistance level.
Note
Stop moved to 1271.Note
Note
Stop moved to 1284.Trade closed: target reached
Trade closed: target reached
Result: profit 250 pips. Initial profit factor (profit / loss) > 10.
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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.