When trading daily, it's all about risk-management and the technical set-up, so here it is.
After the double top last week, a bearish channel is being formed. Above 1.22/1.23 is a good short entry area with a stop at around 1.13, but definitely not exactly 1.13!
T1 & T2 are the targets for the trade which provide again above x2.3 and x6 risk / reward respectively, which is good to play with a moving stop loss along the channel's future key points, so that in the case of a reversal, some profits can be locked.
After the double top last week, a bearish channel is being formed. Above 1.22/1.23 is a good short entry area with a stop at around 1.13, but definitely not exactly 1.13!
T1 & T2 are the targets for the trade which provide again above x2.3 and x6 risk / reward respectively, which is good to play with a moving stop loss along the channel's future key points, so that in the case of a reversal, some profits can be locked.
