GBPJPY Short (4hr)

Price has hit the perfect retracement point (0.618) of the previous downward move. As it has reached this level it has been overbought got some time. Both volume indicators showing a downward move on the cards. Huge RR ratio of 1:12. Likely to take profit before this level is hit dependent on the MM oscillator.

Trade closed: stop reached:

Bullish move isn't finished. Looks like price is gonna smash through 0.618 retracement level. I'm going long to 0.764 retracement level, RR ratio of 1:2.11

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Trade closed manually:

Closing long position for over 60 pips profit and over 1:1 RR ratio, losses on short covered.

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