Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 2.65%
Reward: 5.08%
Reason for Entry: BRC of the bullish TL, also clear rejection of the 50% fib level.
Reason for SL Placement: Above the 61.8% level, above the broken TL, and above noise.
Reason for TP Placement: Between the -0.27 and -0.61 fib extension levels, price has a lot of room to move down after breaking through this bullish TL.
Execution Timeframe: 4H
Risk: 2.65%
Reward: 5.08%
Reason for Entry: BRC of the bullish TL, also clear rejection of the 50% fib level.
Reason for SL Placement: Above the 61.8% level, above the broken TL, and above noise.
Reason for TP Placement: Between the -0.27 and -0.61 fib extension levels, price has a lot of room to move down after breaking through this bullish TL.