ben.smith887

EURJPY Short 1Day- Potential bounce off 78% fib

Short
OANDA:EURJPY   Euro / Japanese Yen

- Short at 78% Fib extension, hoping to profit on the 3rd wave of movement starting at 133.125.

Entry
124.339

Confirmations
1) Below Ich Cloud
2) Conversion & base crossed
3) Lagging Span well below cloud
4) Price closed below All Moving averages (15,50,200)
5) Counted 2 movements
6) MACD increased momentum (blue line)
7) Long wick candle at 118.575

Stop Loss
Above 61% fib line

Take profit
Let run, close when price crosses back over 50 MA and sonversion and base cross.