This is a really good setup right here, we have a AND completing at the same level! This is my 2 favourite patterns on one chart, they give such good risk to reward.
The stop loss will be placed above the X leg which is used as good resistance 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: 20 pips x 2 = 40 pips
Reward #1: 30 pips. R:R = 1:1.5
Reward #2: 50 pips. R:R = 1:2.3
Plan your trade... Trade your plan.