Based on the chart's formation of higher highs (HHs) and higher lows (HLs), we have identified a bullish trend. To enter the market smartly, we will use the Fibonacci tool to determine potential entry and exit points.
Our trade plan is to go long, which means we will be buying the currency pair. We will place a Buy Stop order at 146.603 and set our stop loss at 146.279. To manage our risk, we will use a lot size of 0.33.
We have identified two take profit levels for this trade. Our first take profit level is set at 146.927, and our second take profit level is at 147.251. This gives us a risk-reward ratio of 1:1, which means that our potential reward is equal to our risk.
Overall, our trade plan involves taking advantage of the bullish trend and using the Fibonacci tool to help us make a smart entry and exit from the market.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Our trade plan is to go long, which means we will be buying the currency pair. We will place a Buy Stop order at 146.603 and set our stop loss at 146.279. To manage our risk, we will use a lot size of 0.33.
We have identified two take profit levels for this trade. Our first take profit level is set at 146.927, and our second take profit level is at 147.251. This gives us a risk-reward ratio of 1:1, which means that our potential reward is equal to our risk.
Overall, our trade plan involves taking advantage of the bullish trend and using the Fibonacci tool to help us make a smart entry and exit from the market.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.