Looking to trade the bounce off the major support (marked the false breakout with a yellow box)
Now that the impulse move has shown a retracement pinning the 61.8 Fib level making it good for a buy with a strong risk to reward ratio...
I am buying at market price @ 0.70628 and
TP @ 0.71601 (resistance) and
SL below the low @ 0.70454
The market offers no guarantees but with a risk of only 17 pips and 98 pip reward it certainly makes this setup worth looking at.
Dont bet the farm, as usual always exercise good risk management!
Now that the impulse move has shown a retracement pinning the 61.8 Fib level making it good for a buy with a strong risk to reward ratio...
I am buying at market price @ 0.70628 and
TP @ 0.71601 (resistance) and
SL below the low @ 0.70454
The market offers no guarantees but with a risk of only 17 pips and 98 pip reward it certainly makes this setup worth looking at.
Dont bet the farm, as usual always exercise good risk management!