Top Down Approach:
Identified the weekly resistance area which is @ 1.00264 - Blue
Identified daily key level l @ 1.99914
Identified the 4 hour and daily uptrend break and minor retest
For this pair to be a valid trade, we want to see a few things
1) A retest or clear exhaustion of the breakout (somewhat seen)
2) a break of the weekly resisatance zone
3) clear upside rejection after the break
4) strong candles to the downside
TP target would be 1.99550 area - around 50 pips with potental twin trade for a bigger catch
R&R will be calcuated depending on where the pullback and entry is
Identified the weekly resistance area which is @ 1.00264 - Blue
Identified daily key level l @ 1.99914
Identified the 4 hour and daily uptrend break and minor retest
For this pair to be a valid trade, we want to see a few things
1) A retest or clear exhaustion of the breakout (somewhat seen)
2) a break of the weekly resisatance zone
3) clear upside rejection after the break
4) strong candles to the downside
TP target would be 1.99550 area - around 50 pips with potental twin trade for a bigger catch
R&R will be calcuated depending on where the pullback and entry is