Two possible scenarios could take place within this pair.
Scenario 1(Bullish): Prices respect upward wedge, stays above .236 retracment level, breaks out and tests .5 retracment level. S/L could be placed just at or below critical level S1 and T/P could aim to hit .618 retracment level just below the upper range of the wedge formed on D1 chart (upper green highlighted area). This scenario seems a bit more plausible since this pair is on a leg up from D1 wedge structure.
Scenario 2(Bearish): Prices break down out of upward wedge, retests wedge structure below .236 reracment level and revisits bottom of D1 wedge structure. S/L could be placed at or above critical level S2 and T/P back towards bottom of D1 wedge (red highlighted area).
Good Luck!
Scenario 1(Bullish): Prices respect upward wedge, stays above .236 retracment level, breaks out and tests .5 retracment level. S/L could be placed just at or below critical level S1 and T/P could aim to hit .618 retracment level just below the upper range of the wedge formed on D1 chart (upper green highlighted area). This scenario seems a bit more plausible since this pair is on a leg up from D1 wedge structure.
Scenario 2(Bearish): Prices break down out of upward wedge, retests wedge structure below .236 reracment level and revisits bottom of D1 wedge structure. S/L could be placed at or above critical level S2 and T/P back towards bottom of D1 wedge (red highlighted area).
Good Luck!