Multiple Confluences = Great Potential Swing (Risk:Reward 1:4)
**Major Confluence Around 1.04877**
4h Break of Structure Retest
61% Fib
4h Resistance Level
4h Channel Resistance
Close to 4h Pivot Point
Looking for price action to show bearish reversal patterns around this price. SL is big! 60-65pips, however the potential reward could bring in 4X that amount with a 260 pip LONG TERM target that is determined by fib levels and ABCD pattern. Calculate maximum loss at desired amount/percentage of account and RISK MANAGE ACCORDINGLY, the following trade setup is on a 4h timeframe and to capture the full move could take a few days. The price points on the chart are places to take some profit along the way. Lets see if we get a chance to enter if this setup plays out.
4h Break of Structure Retest
61% Fib
4h Resistance Level
4h Channel Resistance
Close to 4h Pivot Point
Looking for price action to show bearish reversal patterns around this price. SL is big! 60-65pips, however the potential reward could bring in 4X that amount with a 260 pip LONG TERM target that is determined by fib levels and ABCD pattern. Calculate maximum loss at desired amount/percentage of account and RISK MANAGE ACCORDINGLY, the following trade setup is on a 4h timeframe and to capture the full move could take a few days. The price points on the chart are places to take some profit along the way. Lets see if we get a chance to enter if this setup plays out.
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.