This pair is somewhat erratic, in the sense that it is moving sideways in a large range, making it hard to trade, especially now that it is in the middle of the range.
Generally, for large ranges, the best strategy is to buy low and sell high.
Based on the recent price action, it is possible that it make have another leg of down movement to the long-term support level.
The R/R at this point is good for a short trade, and I will look to go long at the support when the time comes.
Generally, for large ranges, the best strategy is to buy low and sell high.
Based on the recent price action, it is possible that it make have another leg of down movement to the long-term support level.
The R/R at this point is good for a short trade, and I will look to go long at the support when the time comes.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free video tutorials: wp.me/P1riws-7uH
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.