How to trade this:
Long
1. Quick trade: Catch the break of this small consolidation upwards and take profit at the green trendline. Only a 1% move but good R:R with a tight stop below the consolidation.
2. Mid trade: If the green trendline is broken the next resistance will be at B. Take profit opportunity.
3. Long trade: Hold to the 161.8 or D. Keep watch on the chart and ensure you see higher lows. If a lower low is made consider selling.
Short
1. Mid trade: Trade a rebreak of the brown trendline. Do not enter unless this is rebroken as it could be a new downward bull channel if it holds. First TP on a short would be at C.
2. Long trade: If price continues bearish, next TP would be at the level of A.
Long
1. Quick trade: Catch the break of this small consolidation upwards and take profit at the green trendline. Only a 1% move but good R:R with a tight stop below the consolidation.
2. Mid trade: If the green trendline is broken the next resistance will be at B. Take profit opportunity.
3. Long trade: Hold to the 161.8 or D. Keep watch on the chart and ensure you see higher lows. If a lower low is made consider selling.
Short
1. Mid trade: Trade a rebreak of the brown trendline. Do not enter unless this is rebroken as it could be a new downward bull channel if it holds. First TP on a short would be at C.
2. Long trade: If price continues bearish, next TP would be at the level of A.
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