Setup Timeframe: D
Execution Timeframe: 4H
Risk: 2.87%
Reward: 6.79%
Reasons for Entry: At the top of a daily bearish TL, shows good rejection on the 4H chart, and is at the weekly 200EMA coming up from beneath.
Reasons for SL placement: Good room above the TL and the rejection zone on the 4H chart, gives it room to move and for noise.
Reasons for TP Placement: Somewhat above an important broken resistance zone, this area could provide support in the future.
Execution Timeframe: 4H
Risk: 2.87%
Reward: 6.79%
Reasons for Entry: At the top of a daily bearish TL, shows good rejection on the 4H chart, and is at the weekly 200EMA coming up from beneath.
Reasons for SL placement: Good room above the TL and the rejection zone on the 4H chart, gives it room to move and for noise.
Reasons for TP Placement: Somewhat above an important broken resistance zone, this area could provide support in the future.