REASONS FOR ENTRY:
1) 61.8% Retracement on Fib on 4HR Timeframe
2) Strong support zone @ entry area.
3) Strong RR - 1:5.5
Before entering, I would strongly advise waiting for support to be tested. If it does not break support. Wait for a confirmation candle on 1HR timeframe. then look to enter.
I would class this as a B set up. 2 reasons for taking the trade. Ideally an A Set up would need 3.
(Remember to manage your risk, I advise 1-2% risk depending on account size. If you need help calculating risk. Message me privately.
1) 61.8% Retracement on Fib on 4HR Timeframe
2) Strong support zone @ entry area.
3) Strong RR - 1:5.5
Before entering, I would strongly advise waiting for support to be tested. If it does not break support. Wait for a confirmation candle on 1HR timeframe. then look to enter.
I would class this as a B set up. 2 reasons for taking the trade. Ideally an A Set up would need 3.
(Remember to manage your risk, I advise 1-2% risk depending on account size. If you need help calculating risk. Message me privately.