We have 60 pips til we reach the bottom of the zone before we can consider looking for more buys off the bounce of the bottom of the supply zone.
On a higher time frame look, we are currently in a daily range and if we see price break outside our resistance zone then we will be looking for entries below previous consolidation zones wicks that came outside the supple zone we drew.
To the upside our Risk to Reward Ratio (RRR)
is 3.43 to 1 for another 170 pips.
To the downside our Risk to Reward is 6.5/1
for a win of 326 pips. This is the move I've been waiting on due to the extended time we've been in consolidation with this pair on a higher time frame.
On a higher time frame look, we are currently in a daily range and if we see price break outside our resistance zone then we will be looking for entries below previous consolidation zones wicks that came outside the supple zone we drew.
To the upside our Risk to Reward Ratio (RRR)
is 3.43 to 1 for another 170 pips.
To the downside our Risk to Reward is 6.5/1
for a win of 326 pips. This is the move I've been waiting on due to the extended time we've been in consolidation with this pair on a higher time frame.