Description
⋅ Setup Timeframe: 4H
Execution Timeframe: 1H
Risk: 2.91%
Reward: 5.05%
Reasons for entry: Showed rejection of the 61.8% fib, and it's below a broken bullish trendline , so bias is short.
Reasons for SL placement: Above the broken TL.
Reasons for TP placement: At the -0.27 fib extension level, may move down if trade goes good to capitalize more on the downward move.
Note: This trade was published a couple of candles after the trade was entered.