In a daily chart you can clearly see that it broke support and became a resistance and had a retest around 1.17472. And on the 4 hour chart you can clearly see a doji candle indicating that i will be a buy from here to form a double top at the resistance level. Dont buy it right away at 1.17500 since now there could be a fake breakout to induce buying and will trigger the stop losses. and you can clearly see a double bottom formed in a 4 hour chart to also confirm that the doji candle which is the close 1.16727 will most likely be a buy from here.
Comment:
ignore this idea
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Comment:
i meant to say dont get into the sell position right away at 1.17500 since there could be a fake breakout to hunt for liquidity