For those who aren't yet in the trade:
,
there is a nice short opportunity coming up now. The pair is forming a flag, consolidating the first downward impulse and confirming it's intentions for the downside. Stop above flag structure. As for our targets, we would like to aim for the 0.27 of previous movement, in the 1.44063 area,
but due to previous structure movements, we have decided to settle for a more than decent target in the 1.4475 area.
Depending on your trading strategy however, your risk reward ratio will change. In any case, even selling the break of the flag and placing a stop above it would nonetheless prove to be a very good R/R, as you can see from the chart.
Trade with care and only with a backtested strategy that works for your trading style.
Please don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Thank you for viewing.
there is a nice short opportunity coming up now. The pair is forming a flag, consolidating the first downward impulse and confirming it's intentions for the downside. Stop above flag structure. As for our targets, we would like to aim for the 0.27 of previous movement, in the 1.44063 area,
but due to previous structure movements, we have decided to settle for a more than decent target in the 1.4475 area.
Depending on your trading strategy however, your risk reward ratio will change. In any case, even selling the break of the flag and placing a stop above it would nonetheless prove to be a very good R/R, as you can see from the chart.
Trade with care and only with a backtested strategy that works for your trading style.
Please don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Thank you for viewing.