$pippin WHAT NEXT??
The market structure remains bullish, supported by strong upward momentum and a clear breakout from previous consolidation. Price continues to form higher highs and higher lows, indicating that buyers are still in control.
However, caution is advised because the RSI is already in the overbought zone, which suggests that the current move may be overextended and a short-term pullback could occur before continuation.
Take Profit (TP):
TP1: around 0.1560 (recent wick high / minor resistance)
TP2: around 0.1700 (next psychological extension level)
TP3: around 0.1950 – 0.2000 (major extension if momentum continues)
Stop Loss (SL):
SL1: around 0.1200 (below breakout retest area)
SL2: conservative SL around 0.0950 (below previous strong support zone)
Risk–Reward Ratio (RRR)
Assuming an entry at 0.1510
Using SL1 at 0.1200
(Risk = 0.1510 – 0.1200 = 0.0310)
TP1 at 0.1560
The reward is +0.0050, giving an RRR of 1 : 0.16.
This is suitable only for a very quick scalp.
TP2 at 0.1700
The reward is +0.0190, giving an RRR of 1 : 0.61.
This provides a moderate risk–reward ratio.
TP3 at 0.1950
The reward is +0.0440, giving an RRR of 1 : 1.41.
This offers the best and most ideal risk–reward setup.
pippin
Alpha
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