Setup Timeframe: 4H
Execution Timeframe: 1H
Risk: 3%
Reward: 12%
Reasons for Entry: Entered a supply zone drawn on the 4H chart, and showed rejection with an 1H candle then closing back outside of it. Also lines up with a 50% bearish fib zone on the 4H chart, and a 78.6% bearish fib level on 1H chart. Also lines up with a bearish TL on 1H chart.
Reasons for SL placement: At the top of the supply zone.
Reasons for TP placement: Good RR.
Execution Timeframe: 1H
Risk: 3%
Reward: 12%
Reasons for Entry: Entered a supply zone drawn on the 4H chart, and showed rejection with an 1H candle then closing back outside of it. Also lines up with a 50% bearish fib zone on the 4H chart, and a 78.6% bearish fib level on 1H chart. Also lines up with a bearish TL on 1H chart.
Reasons for SL placement: At the top of the supply zone.
Reasons for TP placement: Good RR.