According to the previous events, the price has still been trapped between 1.0185 (78% of Fibonacci retracement levels) and 0.9987 (50% of Fibonacci retracement levels)
Long buying:
Buy above 0.9900 with a first target of 1.0100, it might resume to 1.0185.
Short selling:
Outlook -1-: Swing trade at 1.0250 in order to sell with a traget of 1.0030.
Outlook -2–: Below 1.0020 look for further downside with 0.9900 and 0.9860 targets.
Warning:
Stop Loss should never exceed your maximum exposure amounts.
Risk to reward ratios are important and should be calculated.
Example 1:
A risk reward ratio of 1:1.5 is recommended:
Risk: 65 pips must make a profit of 97.5 pips.
65 pips * 1:1.5 = 97.5 pips.
Example 2:
A risk reward ratio of 1:1.5 is recommended:
Risk: 80 pips must make a profit of 120 pips.
80 pips * 1:1.5 = 120 pips.
The material has been provided by InstaForex Company – www.instaforex.com
The material has been provided by InstaForex Company – www.instaforex.com
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