Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 9%
Reasons for Entry: Pullback to a broken support level for a BRC. Inside the Willis Zone between the 50 and 61.8 bearish fib levels. Right near the 50 EMA on the 4H chart. And close to touching a bearish TL.
Reasons for SL Placement: At the 78.6% fib level and above the broken support and above the bearish TL.
Reasons for TP placement: A little below the -0.27 fib extension level, good RR.
Execution Timeframe: 4H
Risk: 3%
Reward: 9%
Reasons for Entry: Pullback to a broken support level for a BRC. Inside the Willis Zone between the 50 and 61.8 bearish fib levels. Right near the 50 EMA on the 4H chart. And close to touching a bearish TL.
Reasons for SL Placement: At the 78.6% fib level and above the broken support and above the bearish TL.
Reasons for TP placement: A little below the -0.27 fib extension level, good RR.