The pair is moving quite harmonically recently, breaking the previous highs after retracing till around the 61.8 retracement. Currenlty we are sitting at such a retracement and on the , providing us an excellent opportunity to go long. If the pair continues it's behaviour, we could again create new highs around the 127.2 which would also complete a nice pattern. (Which is not a reason for the trade, rather a reason to put a 3rd target at that level)
I put the stop loss nice and tight under the entry so that if the direction fails to confirm, we get out of the trade quickly.
Stops will be moved to the entry level once TP1 is reached, and moved up the subsequent TP levels once the next one is reached.
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