According to our trading methodology the Primary and Secondary Trend given by the Monthly Time Bars and the Weekly Time Bars are Bearish. However the Medium Term and Short Term Trends given by the Daily and Four(4) Hour Time Bars are currently Bullish.
We have decided to execute a counter trend trade in the direction of the Daily Time Bars at 1.13142 with a Stop Loss at 1.12210 and a Profit Target at 1.16373 giving us a Reward-to-Risk ratio of 3:1
We acknowledge that this is a high risk trade since we are trading against the Primary and Secondary Trend.
The risk of loss in online trading of stocks, options, futures, forex, foreign equities, and fixed income can be substantial.