The area represented with the blue rectangle is a good place to buy (range 1.06500 - 1.05500).
Stop loss just below the previous low 1.04500 (red line).
Take profit 1.08800 and for those who like to hold longer 1.12000 is the second target (green line).
A good trade management would be to open 2 positions targeting TP1 and TP2. When TP1 hit, move the 2nd position's SL to break even.
Stop loss just below the previous low 1.04500 (red line).
Take profit 1.08800 and for those who like to hold longer 1.12000 is the second target (green line).
A good trade management would be to open 2 positions targeting TP1 and TP2. When TP1 hit, move the 2nd position's SL to break even.
Comment:
First target is reached, moved the Stop to breakeven.
Comment:
The second target has also reached. Resulting in 230 + 550 = 780 pips gain in total.