It is a bit of risky trade but I like long side because the price has reached 2 support line. One is the upper side of donw trend channel after it broke it upward and now the price has come back to retest it. The second line is the support of recent uptrend ( although this recent up trend is i bit steep).
The only thing that concernen me and make this trade a bit ...
So far this pair has react nicely to this trend, touch of 200 MA could be another dip to move the price higher
I already have another open position with the positive correlation so I am not going to incearse mt risk.
I think there are plenty of solid resistance on the way and from this point I am looking for short opportunities. Also, there a good divergence with RSI on 15 and 5 min timeframe that make is interesting for a short term postition.
I have opened a small portion @1.24000. Looking forward to add to position if I see more confirmation.