Let's delve into analyzing this currency pair for trading in futures in the forex market. 📉📊
In the daily timeframe, we're within a long-term box, and currently, we've lifted off from the box's floor, even surpassing the midline, heading towards the box's ceiling. 🏗️💹
On the 4-hour timeframe, we're also witnessing an upward trend, reaching the resistance at 1.80664 and currently consolidating below this resistance. 📈💼
For a long position and to continue the trend, we'll open a long position after breaking the resistance at 1.80664. We'll then wait for targets at 1.81606 and 1.82359. Additionally, our targets are based on risk to reward ratio rather than support resistance levels (: 🎯🚀
Contrary to the trend, we have an upward trend line in this timeframe. After breaking this trend line and activating the trigger at 1.80135, we can open our short position. 📉🔄
Regarding our trend line, we have two types: continuation and reversal. This trend line is of the reversal type, and opening positions with these trend lines requires a trigger for entry confirmation! 📊🔍
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.💼💰
In the daily timeframe, we're within a long-term box, and currently, we've lifted off from the box's floor, even surpassing the midline, heading towards the box's ceiling. 🏗️💹
On the 4-hour timeframe, we're also witnessing an upward trend, reaching the resistance at 1.80664 and currently consolidating below this resistance. 📈💼
For a long position and to continue the trend, we'll open a long position after breaking the resistance at 1.80664. We'll then wait for targets at 1.81606 and 1.82359. Additionally, our targets are based on risk to reward ratio rather than support resistance levels (: 🎯🚀
Contrary to the trend, we have an upward trend line in this timeframe. After breaking this trend line and activating the trigger at 1.80135, we can open our short position. 📉🔄
Regarding our trend line, we have two types: continuation and reversal. This trend line is of the reversal type, and opening positions with these trend lines requires a trigger for entry confirmation! 📊🔍
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.💼💰
