Here is another possible range bound trade based solely on the fact that price has constantly struggled to overcome that weekly strong resistance area between 1.51 and 1.519. If you are patient with the trade and it continues the range bound price action, the RR ratio is spot on (3 to 1). In these cases, for me, it is always worth taking the trade, starting with a conservative position and building into it if price action gives you that opportunity.
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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.