FX:GBPJPY   British Pound/Japanese Yen
552 7 21
My target reverse is triggered on pound yen from 16170. I am selling to the back of the downtrendline. Looking for 158 and then coming back onto the longs. Thanks and happy Sunday!
Trade active: I pulled about 129 pips off this last night and now I am breakeven because this could come back. Otherwise, right now I am drawing a Counter trendline on my on one hour and if this gives us the sell again tonight, will resell. Thanks!!
Trade closed manually: I am off of these the stop closed for break even. Thanks!
Comment: this is a strong support area. may buy next week.
Comment: Start drawing CTLs. My guess is that this will retrace to about 15750-15850 place the stop above 15920 and we are reselling. XO
Nice
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Hey, I'm in this one too. Picked up 16170 too. Happy trading.
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How did you know to go short on the Sunday opening for the 130 pips? Was it the Stoc RSI above the 80 line and looking to fall or a combination of things?
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Hi Gwoog. The pair has hit fib resistances on the higher timeframes and formed bearish candlestick formations with the stochastics in the sell zone at the time...This pair is a bit oversold and is going higher. It needs to pullback to an acceptable retracement level. After a really long run like that, generally currency pairs will pullback because they run out of buyers at the 127 and the 1618 extensions.
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sanmed02 hope.bleecker
at what a point do you think the retracement will be in?
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Are you using a fixed stop loss and then manually adjusting to breakeven? Do use a trailing stop loss at all? Do you have fixed hours of when you trade or do you keep an eye on the charts 24/7?
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So you are doing fibs on the weekly and daily to see where PA might go and then trade on the 2 hour? Could you show a chart of the weekly or daily with your fibs on them for an example?
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