2018Feb06 EURUSD H1 Trend Continuation

EURUSD is on a new downtrend as shown by the new lower highs and lower lows. As I am expecting this bearish bias to persist, I am placing an aggressive sell limit at 1.24270 (61.8 Fibonacci retracement of the recent swing high to swing low. Stop loss is just above the swing high while profit taking is at the swing low. I am manually closing this pending order if price goes to TP1 before getting triggered.

Trade Setup: Trend Continuation
Price Entry: 1.24270
SL 1.24800 | SL pips 53.0
TP1 1.23510 | TP1 pips 76.0
RRR1 1.43
Status/Remarks: TP1 hit! :)