LONG idea on this pair, but always with caution

Hi Folks:

Here's an updated idea on this pair. We are currently sitting in a nice support are by a long term ascending channel and some other descending channels so I think it is interesting to try some longs at this level but always taking into consideration the bearish possibilities to make sure we do not blow up our account.

I am proposing this idea to open longs to the next resistance level as per the chart assuming that we will hit and break out the channel after 7 red weekly candles in a row.

If we break the green ascending channel we will need to reevaluate the whole situation.

Cheers

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