Price approaching crucial zone. A confirmed manipulation has already formed at the top of the range, that means that the price have to return to that level to let banks get rid of losing positions.
The fact that August breaks the previous lows means that a potential manipulation lurks. This is an extra reason to believe that the price will raise soon.
However, the lows of September and November can offer plenty of liquidity to banks. Trade now is risky, but if the price goes down we will be able to place our stop loss below these lows to stay safe even from an eventual break - and take profit below the level that bank will start selling their open positions.
Keep in mind that reversal is always risky, but the impressive reward sometimes justifies the pluck. You can drop timeframe to find the correct moment to jump into the reversal. Risk/Reward ratios is around 1:7. Risk recommended to be no more than 0.5% on reversals.
The fact that August breaks the previous lows means that a potential manipulation lurks. This is an extra reason to believe that the price will raise soon.
However, the lows of September and November can offer plenty of liquidity to banks. Trade now is risky, but if the price goes down we will be able to place our stop loss below these lows to stay safe even from an eventual break - and take profit below the level that bank will start selling their open positions.
Keep in mind that reversal is always risky, but the impressive reward sometimes justifies the pluck. You can drop timeframe to find the correct moment to jump into the reversal. Risk/Reward ratios is around 1:7. Risk recommended to be no more than 0.5% on reversals.
