Daily market structure was broken and retested + weekly candle close above 9EMA. To be cautious of potential break back below the broken structure and a push towards 1.2300 - 1.2200.
Long trade entry strategy is to wait for a clear break of the 4h consolidation and enter upon a retest. Upside bias 1:4 risk reward with a 50pip stop and 200pip target projection.
Long trade entry strategy is to wait for a clear break of the 4h consolidation and enter upon a retest. Upside bias 1:4 risk reward with a 50pip stop and 200pip target projection.
Trade active
Price broke the support and is now up for a retest and possibly a selloff continuation.
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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.