The price is showing a strong rejection from the lower trend channel line which indicates that there is a high possibility of a strong bullish pressure ahead. If so then we expect to enter the market with a long position around 1.22266 and we will target a profit of about 114 pips while risking only 37 pips which gives us a 3R (risk to reward ratio). (Disclaimer,...
From the strategy we use the market is seem to approach a strong level of support and therefore we expect the price to buy at the opening of the market. We expect to buy at 1.55158, SL 1.54657 and our TP is around 1.57654. We target around 250 pips while we risk around 50 pips and we will continue to minimize our risk as the price continues to move in our...