This is a pattern @ MARKET and stop loss will be placed below the X leg which we use as good support in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Risk: 47 x 2 = 94 pips
Reward #1: 50 pips. R:R = 1:1.1
Reward #2: 80 pips. R:R = 1:1.8
Plan your trade... Trade your plan.