fonx
Short

Confluence correction projection with short term trend line.

FX:GBPJPY   British Pound / Japanese Yen
51 2 0
Down trend. Price doing correction. Harmonic projection of previous correction in confluence with short term down trend line and also in Fibo retracement area between 0.618 and 0.786.

Short Entry: 161.50
Stop Loss: Above 164 (make it 165 to give some buffer)
Exit Level 1: 151.80 (lowest low)
Exit Level 2: 149 (projection of last swing low)
Reached the desired zone. Too much upward momentum with a massive strong candle today. I didn't expect to reach the zone today as it is Friday. Waiting for bearish signals to place short entry. Zone to change bias to bullish is 164 as that means we have broken last lower high.
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Trying to edit the idea. Mistake in Entry level. Should be Entry at around 160.50
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