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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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.