has been moving below the 200 period EMA
for a while now. Whilst below we are looking for sell trades only. The pair made a lovely and strong move to the downside before pulling back slightly in a bullish channel
. We saw a test of the 200EMA before falling back down, breaking the bullish channel
support. I would expect some pullback and thus stop loss has been set to allow the pair to breathe slightly. Total risk reward is 2. Remember this is just my ideas and not a holy grail! Also, use risk management accordingly. Happy trading!