Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 6.8%
Reasons for Entry: In a bearish trend, looking for it to bounce of the TL again which aligns with the 50% - 61.8% bearish fib zone.
Reasons for SL Placement: Above the 78.6% level, above the bearish TL, and above some recent highs.
Reasons for TP placement: Slightly above the -0.27 fib extension, and slightly above the S1 pivot level on the 4H chart.
Execution Timeframe: 4H
Risk: 3%
Reward: 6.8%
Reasons for Entry: In a bearish trend, looking for it to bounce of the TL again which aligns with the 50% - 61.8% bearish fib zone.
Reasons for SL Placement: Above the 78.6% level, above the bearish TL, and above some recent highs.
Reasons for TP placement: Slightly above the -0.27 fib extension, and slightly above the S1 pivot level on the 4H chart.
Comment:
THIS IS A SELL ORDER, NOT IN THE TRADE YET.