I see POI at 1.7755
It should be a perfect buying opportunity with stop loss at 1.6530
Reason;
I usually use Fib retracement as my basic strategy as well as support and resistance . I see a perfect retracement on golden zone 78.6 with proper resistance at 1.7755 which also aligns with my POI. Take profits are just truly based on inverse FIBS
Take profit 1 ( 2.19 )
Take profit 2 ( 2.44 )
Take profit 3 ( 2.69 )
Stop loss is set at 1.6530 as it will form new Lower Low and can possibly be a reversal from there on.
Keep you short loss small and profits big
This trade is 1:7.5 risk to reward ratio.
This is not financial advice. Invest only what you are prepared to lose and do not predict the movements, READ the charts.
Best wishes,
Zaki
It should be a perfect buying opportunity with stop loss at 1.6530
Reason;
I usually use Fib retracement as my basic strategy as well as support and resistance . I see a perfect retracement on golden zone 78.6 with proper resistance at 1.7755 which also aligns with my POI. Take profits are just truly based on inverse FIBS
Take profit 1 ( 2.19 )
Take profit 2 ( 2.44 )
Take profit 3 ( 2.69 )
Stop loss is set at 1.6530 as it will form new Lower Low and can possibly be a reversal from there on.
Keep you short loss small and profits big
This trade is 1:7.5 risk to reward ratio.
This is not financial advice. Invest only what you are prepared to lose and do not predict the movements, READ the charts.
Best wishes,
Zaki