Hi guys, hope all good.
As you can see a medium-long term channel has been formed, we are on the bottom edge of it and the price is experiencing a very nice consolidation, which is in this case our trigger.
Set up:
-Stop loss right below the consolidation, around 40 pips
-Take profit in proximity of the next resistance level, around 120 pips
-3:1 risk reward. Low risk, high reward.
-Target could be reached in approximately 2-3 days according to ATR.
Simple but effective strategy.
Cheers,
Sebastiano.
As you can see a medium-long term channel has been formed, we are on the bottom edge of it and the price is experiencing a very nice consolidation, which is in this case our trigger.
Set up:
-Stop loss right below the consolidation, around 40 pips
-Take profit in proximity of the next resistance level, around 120 pips
-3:1 risk reward. Low risk, high reward.
-Target could be reached in approximately 2-3 days according to ATR.
Simple but effective strategy.
Cheers,
Sebastiano.