GBPJPY - Fibo retracement Trade
Hello traders,
we are looking for a sell position as the price has alreadt made a pulse to the downside twice and made a nice retracement on the second wave. The retracement is happening right on the previous support on 1 Hour chart.
After the retracement, price moved back to the Fib (0) level and is trying to break as of now.
If the 1H candle closes below the Fib(0), we will be looking for a retracement back to Fib (0) level where we will enter a short position.
If the candle closes right as it is now (close exactly around Fib (0) level), we will enter the trade right after the hourly candle closes.
Entry: 181.170
Stop : 191.360
TP1: 190.740
TP2: 190.470
we are looking for a sell position as the price has alreadt made a pulse to the downside twice and made a nice retracement on the second wave. The retracement is happening right on the previous support on 1 Hour chart.
After the retracement, price moved back to the Fib (0) level and is trying to break as of now.
If the 1H candle closes below the Fib(0), we will be looking for a retracement back to Fib (0) level where we will enter a short position.
If the candle closes right as it is now (close exactly around Fib (0) level), we will enter the trade right after the hourly candle closes.
Entry: 181.170
Stop : 191.360
TP1: 190.740
TP2: 190.470
Order cancelled:
Price didn't retrace to the entry level and moved to TP1 area.