Trading within the channel.
Updated
We are at a decent support zone for now. Will it retrace to upper channel and come back down again?
Going long now on USD is a very rewarding but yet very risky trade, as long the R/R is there I think this trade is still do-able. If USD rebound and drop again, this can be a very nice pair to milk some pips out of it for months to come as we can trade within channel, trading within channel can be very profitable from my past experience. i.e in 2018-2019, EURUSD formed a downtrend channel and trading within the channel back then had made me quite some pips within 3months time frame. But my suggestion is to wait for a chance to short on this pair, for the best R/R.
Going long now on USD is a very rewarding but yet very risky trade, as long the R/R is there I think this trade is still do-able. If USD rebound and drop again, this can be a very nice pair to milk some pips out of it for months to come as we can trade within channel, trading within channel can be very profitable from my past experience. i.e in 2018-2019, EURUSD formed a downtrend channel and trading within the channel back then had made me quite some pips within 3months time frame. But my suggestion is to wait for a chance to short on this pair, for the best R/R.
Note
Refer to my previous post on this pair.
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