Long or Short: Short
Entry Point: 78.6% Fibonacci level 0.9300
Stop Loss: 38.2% Fibonacci level 0.9380
Profit Target/s: 127.2% Fibonacci 0.9200
Reward-to-risk Ratio: 1.25 to 1
Risk percentage: 1%
Indicators used: Fibonacci, 5 EMA, 10 EMA, 30 EMA, 200 SMA
Trade Rationale: Long term trend is bearish, price broke 200 SMA heading downwards with momentum, wait for retracement up then enter short until price hits the 0.9200 support level.
Trade Adjustments: Exit trade early if price retraces before hitting the .9200 support level
this setup is ************…very clear to enter…this time there is a real competition for voting…this is nice setup…
200sma and fib gives us best possible entries…like this…all the best…
can you explain me how you draw Fibonacci?
Check out this link to the babypips school for info on drawing and using Fibonacci retracements.