We can observe a descending wedge from the 4H chart and scaling down to the 1H chart, we can see a breakout of the wedge pattern.
It is important to observe the price action as prices could rebound after a retest of the trendline
Upside targets:
TP 1 - 0.78470
TP 2 - 0.79070
SL: 0.76875
An entry from the retest (if any) and reaching TP 2 would give a nice risk-reward ratio of around 3.
Disclaimer: Content discussed is for informational purposes only and shall not construe an offer or solicitation to engage in any activity regarding the subject matter.
It is important to observe the price action as prices could rebound after a retest of the trendline
Upside targets:
TP 1 - 0.78470
TP 2 - 0.79070
SL: 0.76875
An entry from the retest (if any) and reaching TP 2 would give a nice risk-reward ratio of around 3.
Disclaimer: Content discussed is for informational purposes only and shall not construe an offer or solicitation to engage in any activity regarding the subject matter.
Trade closed: stop reached:
SL has been hit. Moving on to the next trade!