In hourly chart we can see that Euro managed to rise till the crucial fibo range but couldn't manage to stay up there so as long as there isn't any confirmation above the fibo range we could anticipate a decrease in euro index versus dollar
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades .
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades .
Note
so I just wanted to make quick update, price is rising but still we need a confirmation candle which have to retest the 0.786 line or close a candle above the previous high which is 1.00925, in this 2 cases you can open a long position
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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.