Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 2.2%
Reward: 4.59%
Reasons for Entry: Coming down to a monthly support level that also matches up near a 50% bullish fib area. Set the order somewhat above the support level.
Reasons for SL Placement: Below both the support level and the 50% fib level, gives it room to move around a bit and have wicks.
Reasons for TP Placement: Good RR, and below the recent highs around 119.8
Execution Timeframe: 4H
Risk: 2.2%
Reward: 4.59%
Reasons for Entry: Coming down to a monthly support level that also matches up near a 50% bullish fib area. Set the order somewhat above the support level.
Reasons for SL Placement: Below both the support level and the 50% fib level, gives it room to move around a bit and have wicks.
Reasons for TP Placement: Good RR, and below the recent highs around 119.8