By:- Shahzad Rabbani. Ex-Commodity Trader.former proprietary trader. Forex Mentor. can contact him at firstname.lastname@example.org Whatsapp: +92 302 8146917 Twitter: @rabbanishahzad3
PAIR HAS SWING HISTORICALLY!
Apparently the pair have been tendency a healthy swing upward or downward, even notable on the hourly time frame, we have been watching this pair for quite long and observed that this pair is looking its support also witnessing by the renowned golden ratio of fibo 61.8%
Seemingly the subject has been looking its Feb 2020 low to March (till to date) high’s midpoint which we called retracement.
if you putting your fibo tools on the h1 chart it looks to have a healthy risk-reward ratio surpassing 4:1 as note down by our technical team.
Therefore we will have to buy this pair @111.96 with the stop loss of 111.54 (42 pips) whereas the target could be around. 113.51(197 pips).
don’t you think it is a good risk-reward ratio! if u you than buckle up your shoes.
for this peanut risk versus hefty reward trade.
but. but. but. you must have adhered strict with your stop loss in order to avoid your precious equity from any abrupt bargain hunters maneuvering.
have a nice trading journey.