Now this set up missed my entry by about 10 pips in the middle of the night. I'm hoping we see a pull back to my entry as there's quite a bit of confluence on this trade. Price has broken key support and structure, so we should see moves to the down side. At the moment we are pulling back to the key level of structure which lines up with the 38.2 Fibonacci retracement level.
At the same level is a bat pattern completion and a supply zone (45 min chart so you can see supply), which is where I will be entering if we price does pull back. This trade also has great risk reward of 2:1 for tp1 and 3:1 for tp3.
At the same level is a bat pattern completion and a supply zone (45 min chart so you can see supply), which is where I will be entering if we price does pull back. This trade also has great risk reward of 2:1 for tp1 and 3:1 for tp3.