Based on the chart, we can observe that it is showing higher highs (HHs) and higher lows (HLs), indicating a bullish trend. The Relative Strength Index (RSI) does not indicate any divergence currently.
We will enter a long trade with a risk-to-reward ratio of 1:1. Our trade plan is as follows:
Entry: We will set a buy stop order at 0.82987.
Stop Loss: Our stop loss will be set at 0.82575.
Lot Size: We will take a position size of 0.27.
Take Profit Targets: We have identified two take profit levels, with the first at 0.83393 and the second at 0.83811.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
We will enter a long trade with a risk-to-reward ratio of 1:1. Our trade plan is as follows:
Entry: We will set a buy stop order at 0.82987.
Stop Loss: Our stop loss will be set at 0.82575.
Lot Size: We will take a position size of 0.27.
Take Profit Targets: We have identified two take profit levels, with the first at 0.83393 and the second at 0.83811.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.