Setup Timeframe: 4H
Exeuction Timeframe: 4H
Risk: 1.81%
Reward: 4.6%
Reasons for Entry: Touching a bullish TL, with a long term bullish TL below it, both which should offer some support. This trade is somewhat based on the NFP news tomorrow, thus the small risk.
Reasons for SL placement: Enough room for the news to cause a whipsaw, also below the long term bullish TL.
Reasons for TP placement: News should send the pair soaring if bearish for the USD, but still below the long term bearish TL.
Exeuction Timeframe: 4H
Risk: 1.81%
Reward: 4.6%
Reasons for Entry: Touching a bullish TL, with a long term bullish TL below it, both which should offer some support. This trade is somewhat based on the NFP news tomorrow, thus the small risk.
Reasons for SL placement: Enough room for the news to cause a whipsaw, also below the long term bullish TL.
Reasons for TP placement: News should send the pair soaring if bearish for the USD, but still below the long term bearish TL.