Direction: Daily support level @ 1.0773+/-10pips. Long opportunity.
Reason: Double bottom @ Daily support level.
Entry
Risk/Reward: 3.32
Money management: Risk is low so I will invest 1.2% of my trading account.
Reason: Double bottom @ Daily support level.
Entry
- Aggressive entry- Buy stop order @ 1.8453 as price breaks yellow zone.
- Conservative entry-Wait for the price to break the yellow zone and retrace back to yellow zone to put buy limit order.
Risk/Reward: 3.32
Money management: Risk is low so I will invest 1.2% of my trading account.