Of course, it is valid but not a good one due to a couple of reasons.
1- It is too far away compared to entry level (1.9776). So, your stop loss for trade #1 will be 141 + 10 = 151 pips. If this is suitable to your risk profile, it is a valid swing low.
2- As you can see on the chart, the blue BAT line started to rise a few bars later and passes through 38.2 and 61.8 fib levels. By putting your swing low @ 1.9635, you give no chance to range trading.
Therefore, 1.9715 is a better choice as a swing low.
1- It is too far away compared to entry level (1.9776). So, your stop loss for trade #1 will be 141 + 10 = 151 pips. If this is suitable to your risk profile, it is a valid swing low.
2- As you can see on the chart, the blue BAT line started to rise a few bars later and passes through 38.2 and 61.8 fib levels. By putting your swing low @ 1.9635, you give no chance to range trading.
Therefore, 1.9715 is a better choice as a swing low.
DislikedTeam Aphid
Could you comment on the above level as swing low, it has taken place before the recent swing high, is it valid?Ignored