GBPUSD SHORT
Fibonacci Retracement drawn from Daily high and low. Price is currently in Retracement area and also by my Weekly levels and zones.
So I am placing a short trade down to the Daily Support target given from the Fibonacci
TRADE:
Entry: 1.2350
Stop Loss: 1.2970 Risk: 620pips
Target 1: 1.0970 Risk:Reward ratio = 1:2.26 Profit: 1380pips (Most likely)
Target 2: 1.0350 Risk:Reward ratio = 1:3.25 Profit: 2000pips (Likely)
Target 3: 0.8600 Risk:Reward ratio = 1:6.09 Profit: 3750pips (Least likely)
So I am placing a short trade down to the Daily Support target given from the Fibonacci
TRADE:
Entry: 1.2350
Stop Loss: 1.2970 Risk: 620pips
Target 1: 1.0970 Risk:Reward ratio = 1:2.26 Profit: 1380pips (Most likely)
Target 2: 1.0350 Risk:Reward ratio = 1:3.25 Profit: 2000pips (Likely)
Target 3: 0.8600 Risk:Reward ratio = 1:6.09 Profit: 3750pips (Least likely)
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