Setup TImeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 9%
Reasons for Entry: Bearish TL touch that lines up with a Willis zone on the bearish fib, as well as price is right in the 20 and 50 EMAs on the 4H, and the 200 MA is sloping downward. Currently in a bearish channel.
Reasons for SL placement: Above the 78.6 fib level, and above both bearish TLs.
Reasons for TP placement: Good RR, at the -0.27 fib level.
Note: This trade is a risky setup, pretty choppy price action recently, not as clear as I usually would like.
Execution Timeframe: 4H
Risk: 3%
Reward: 9%
Reasons for Entry: Bearish TL touch that lines up with a Willis zone on the bearish fib, as well as price is right in the 20 and 50 EMAs on the 4H, and the 200 MA is sloping downward. Currently in a bearish channel.
Reasons for SL placement: Above the 78.6 fib level, and above both bearish TLs.
Reasons for TP placement: Good RR, at the -0.27 fib level.
Note: This trade is a risky setup, pretty choppy price action recently, not as clear as I usually would like.