QuileHills
Short

GBPJPY Testing Fib Resistance

FX:GBPJPY   British Pound / Japanese Yen
356 3 16
I have a pending sell stop to catch this short opportunity if my 100.00% fib resistance holds.

Fib resistance, Double top , and 4H RSI <50 support this position.

SL just above fib resistance, TP just above descending channel support for R:R of 3.76
I have re-entered the trade now, in between a 50 to 61.8 retracement of the previous down wave, same tp as you have however this time R:R is better :) what do you think?
Reply
Sell stop triggered... Its the gap which triggered the trade.
Reply
QuileHills forexmech
Yes, lucky for me I canceled the pending order Friday before market close.
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