EURGBP CHANNEL LONG|RSI OVERSOLD|3:1 RISK REWARD

Hi there.

EURGBP upward channel is unbroken and stands strong.Now there is a comfortable spot for us to enter.

However, the price is currently below the relatively strong horizontal resistance area, which, gives us less than 50% probability.

Despite that, I say, that the channel is strong, and there cant be a better point for entry than here, from the risk-reward perspective, so the <50% probability is compensated by 1-3:1 risk reward, 2-orversold RSI, which helps to etch the probability in our favor.

Use 0.7% of deposit.

NOTE: maybe, buy 0.5% now and add 0.5% if the price reaches the resistance of the channel. You'll get great average price this way.

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Komentarz:

The channel stands strong