with the 4h swing low being in, I have been looking for 1h weakness to start accumulating a long position, the hourly chart is now in this zone for me and as such i will take a long position with stop below the 1h low and hold it on 4h chart till we have the start of a distribution. as you can see we have an indicator relative vigor index buy signal. i remain bullish on the pair until proven otherwise.
Let’s see how she goes from here
As for a stop loss, think accordingly, 1.2860 is 4h low, don’t get weak hands; think about placement
See as scary as this trade looked, it’s the fear we are making pips on, the last few panic sellers we buy their position and ride it up. 25 pips in no time