Currently watching for this possibility. All Fibs and EW counts point to it. It will need to break above at 4.0 fib with gusto, or I might short there
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GJ looking fearful of that triple Fib zone just above. I may have to fomo short, but will wait 5 minutes for GBP news.
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Pretty clear rejection. But I am expecting USDJPY to go up soon. So I can not short GJ right now, but watching UJ for clues....
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That's it, Shorts FIRED! GU is failing, UJ still holding but I think GJ will drop now. Lets see how it goes.... GU chart:
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I did take a small scalp per two pics above. Now I am waiting for UK news in 8 hours. Hoping for mildly good news to give bulls courage to push to the 4.618 I think that is still quite plausible, given the bullish signs thus far.
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Oops, I meant to type the ''5.618'' not 4.618. Thus I am hoping to short at the 5.618 around 149.20
@dr90210, Thanks for your kind words. I did take small short, closed with small profit when GJ hit my next support zone and looked to be holding.
Currently I am waiting for the GBP econ news coming next session.
If the news is good for UK, then I am hoping it will bounce to original shorting zone of 149-149.20
If the news is bad (a miss) then I will short immediately, because I think GBP has more room down than up in general...
LocTrader
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Hi, thank for sharing, you always using only Fibs to entry and tp pairs?
EuroMotif
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@LocTrader, Hi, yeah, I use mostly FIbs and EW, but I also watch the ''pivots'', especially the Weekly...