Hi team,
This pair is respecting a well-established channel, and has just rebounded off the Fibonacci level marked on the chart, so we are expecting it to drop to at the very least the daily support level.
I expect this support will be respected, and if it is then we can utilise that to our advantage. Either we touch the top of the channel, or we break out of it – either way we make money.
Both of these trades have a very high risk to reward ratio, so we don’t need very big lot sizes to make money. As ever please manage your risk appropriately.
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Good luck and trade safe
DrBear
This pair is respecting a well-established channel, and has just rebounded off the Fibonacci level marked on the chart, so we are expecting it to drop to at the very least the daily support level.
I expect this support will be respected, and if it is then we can utilise that to our advantage. Either we touch the top of the channel, or we break out of it – either way we make money.
Both of these trades have a very high risk to reward ratio, so we don’t need very big lot sizes to make money. As ever please manage your risk appropriately.
Like what I do? Please subscribe comment and share.
Good luck and trade safe
DrBear
