The market could potentially move to the 77 psychological zone which has area of imbalance then would show instant reaction to the upside and drop further. 4:1 risk ratio can be potentially extended to taking into consideration retracements. Take this with precaution as the trade can drag into the weekend. I often keep my stop very close to my entry, maximum 20 pips drawdown.
Transaction en cours:
I have already taken partials with 1 lot size, not many pips but this would be my last trade on this pair until there are signs of breakout to the upside (improbable) or to the downside
Commentaire:
To take advantage of the breakout, I will be using wyckoff trading strategy to find possible entries.