Price recently broke below the 0.82977 daily horizontal support level. There has also been a pullback and we're probably witnessing a continuation of the downward trend as signalled by the bearish harami candlestick pattern slightly below the same support level.
A good entry price is around 0.82886; with stop loss at 0.83061 (about 17.5 PIPS) and take profit at 0.82245 (about 64.1 PIPS). These should give a reward-to-risk ratio of 3.66 or thereabouts.
As always, look before you leap.
Happy trading!
A good entry price is around 0.82886; with stop loss at 0.83061 (about 17.5 PIPS) and take profit at 0.82245 (about 64.1 PIPS). These should give a reward-to-risk ratio of 3.66 or thereabouts.
As always, look before you leap.
Happy trading!