DislikedPossible trade setup, let's discuss 1 : Green Zig Zag Arrow - Yes 2 : MBFX Timing was oversold, now going up - Yes 3 : Trend Line is Green - Yes Price closed above 15 SMA - Yes Using Fib tool to display entry, stop loss and profit targets, by using 2 times the ATR(50) of 4 Hour candles, see Yellow arrow I placed the stop 10 pips below the low, and to maintain the 60 pips stop loss requirement, entry has to be at 89.00, do you follow? Therefore we can see 1 to 1 risk / reward is at first resistance point (fractals) and 2 to 2 risk / reward target...Ignored
I would not take it.
I can calculate the movement of stars, but not the madness of men. Isaac N.