This pair is reacting near a strong resistance, we can see it on W1 chart.
Looking at D1 chart there are some more reasons:
1) Pinbar
2) R1 pivot resistance
3) 0.7860 fib retracement
4) a bullish swing against the main bearish trend
5) a gartley pattern
Although the R/R ratio is not so good for me i want to be conservative and place the SL following the rules, above the X point of the gartley.
Best regards
Looking at D1 chart there are some more reasons:
1) Pinbar
2) R1 pivot resistance
3) 0.7860 fib retracement
4) a bullish swing against the main bearish trend
5) a gartley pattern
Although the R/R ratio is not so good for me i want to be conservative and place the SL following the rules, above the X point of the gartley.
Best regards