🕒 Timeframe: 1 Hour
💱 Pair: EUR/GBP
📍 Entry: 0.86129
🎯 TP (Take Profit): 0.84807
🛑 SL (Stop Loss): 0.86565
📊 Risk-Reward: ~1:3.2
🧠 Trade Idea:
This is a Fib-based reversal setup following a strong bearish leg. Price retraced back into a key supply zone, lining up perfectly with:
🔹 61.8% - 88.6% Fib Retracement
🔹 Prior structure resistance
🔹 Bearish reaction from 0.86626 high
🔍 Key Levels:
Fib Retracement Zone: 0.86079 – 0.86463
Major Resistance: 0.86626 (Previous high)
Key Support/TP Zone: 0.84807 (-27% Fib Extension)
🔥 Trade Execution:
🔻 Entered short at 0.86129
📉 Targeting the extension zone near 0.84800, which aligns with the projected bearish continuation move.
📈 SL just above 88.6% Fib and structure at 0.86565
💱 Pair: EUR/GBP
📍 Entry: 0.86129
🎯 TP (Take Profit): 0.84807
🛑 SL (Stop Loss): 0.86565
📊 Risk-Reward: ~1:3.2
🧠 Trade Idea:
This is a Fib-based reversal setup following a strong bearish leg. Price retraced back into a key supply zone, lining up perfectly with:
🔹 61.8% - 88.6% Fib Retracement
🔹 Prior structure resistance
🔹 Bearish reaction from 0.86626 high
🔍 Key Levels:
Fib Retracement Zone: 0.86079 – 0.86463
Major Resistance: 0.86626 (Previous high)
Key Support/TP Zone: 0.84807 (-27% Fib Extension)
🔥 Trade Execution:
🔻 Entered short at 0.86129
📉 Targeting the extension zone near 0.84800, which aligns with the projected bearish continuation move.
📈 SL just above 88.6% Fib and structure at 0.86565
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.
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.