A trade for next week.
Patiently waiting for the price on cable to hit the 78.6 fibonacci level so I can enter. Demand on the 4 hour time frame also lines up nicely with my entry level, adding some worthy confluence. Take profit 1 is 205 pips making the risk reward slightly above 1 but take profit 2 is 335 pips making the risk reward above 2.
Patiently waiting for the price on cable to hit the 78.6 fibonacci level so I can enter. Demand on the 4 hour time frame also lines up nicely with my entry level, adding some worthy confluence. Take profit 1 is 205 pips making the risk reward slightly above 1 but take profit 2 is 335 pips making the risk reward above 2.