2 trades can be taken on this pair as price trickles down to the support level/zone.
1st. (conservative) enter the trade from the daily light blue lines risking 95 pips to make the risk/reward being 1:5 which is great for a passive wealth created trade.
2nd. (aggressive) let price action can enter into the dark blues lines risking 30 pips to make the same amount of pips as the conservative (545 pips) making the risk/reward 1:18.
Price action is coming down in a straight path, the support level has no visible obstruction points in between the weekly resistance point, to weekly support.
2 ways to manage the trade
1. Exiting trade before price action touches the minor obstruction still having a risk/reward at 1:3
2. More aggressive approach by holding the trade passed the weekly high, price action will eventually pass the weekly highest high
1st. (conservative) enter the trade from the daily light blue lines risking 95 pips to make the risk/reward being 1:5 which is great for a passive wealth created trade.
2nd. (aggressive) let price action can enter into the dark blues lines risking 30 pips to make the same amount of pips as the conservative (545 pips) making the risk/reward 1:18.
Price action is coming down in a straight path, the support level has no visible obstruction points in between the weekly resistance point, to weekly support.
2 ways to manage the trade
1. Exiting trade before price action touches the minor obstruction still having a risk/reward at 1:3
2. More aggressive approach by holding the trade passed the weekly high, price action will eventually pass the weekly highest high