We are in overall buyers territory from the daily perspective, we can see price ranging from longtime below the green line, we got a nice pullback and then trend pullback happened and we broke the big , As we see strength on the parent pair we can see price channeling. This is a channel trade as we see a probe i.e price doesn't want to go beyond the channel so, we had a signal there. The negative shade of this trade is we are in overall buyers territory and we are doing a counter-trend trade. Personally, I won't take this trade because I am little conservative trader and Risk is my first preference.
Stop loss: 0.00001643
Position Size: 1% Risk on your capital/0.505
Risk/Reward: 1:13 So, Typically Risky RR. (This is for Aggressive traders)
If TP is hit then we will be at 26% profit.
Buy from Sellers and Sell from Buyers.