FX:GBPJPY   British Pound/Japanese Yen
Shorting GBPYJPY due to it touching the channel edges and challengig EMA 200 (4h) and declined by both. The pair is also being close to fibonacci 50, aswell as RSI7 are near overbought. I will close out the current open position if it reaches above fibonacci 50, and look to enter closer to 61.8 and 76.4. Will place the order SLs above fibonacci 76.4, and TP at previous buttom. Will look to enter a bigger short position at a better price later on.

Order 1:
Entry at 140.97
SL at 142
TP at 138.5

Order 2:
Entry at 141.65
SL at 142
TP at 138.5

Open position:
Opened at marked
SL at 140.7
Tp at 138.5
Comment: Enabled trailing stop loss on the open position. Trailing with 30 pips. Moved TP down to 135, towards bottom of the channel I've drawn. Will open a new position below 138.5 if we can break that point next week.
Enabled trailing stop loss on the open position. Trailing with 30 pips. Moved TP down to 135, towards bottom of the channel I've drawn. Will open a new position below 138.5 if we can break that point next week.
Reply
Im short since yesterday from 139.765 i have a faith it will break. Thanks for chart it makes a hope
Reply
@Bunayyan, No problem, thanks for your response. I'm glad that my chart gave you some hope. Have a great weekend.
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