MilanTradesFXC
Short

Time to short gbpjpy? i think so.....

FX:GBPJPY   British Pound / Japanese Yen
We have a lot of daily resistence and fibonacci line 61.8 showing us a reversal @ 138.039 going short on this one, 300 pips maybe?
Bad
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May I ask why you chose 50% as target? That's a very uncommon reversal fibo level..
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Najib13th IAmAgainst
so what is the common according to his chart?38.2?
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IAmAgainst Najib13th
I look for a combination of trendlines and fibo levels, but yes, 38.2 is definitely a better first target.
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Najib13th IAmAgainst
good choice..this is money bussiness...gbp havent been cheaper for a decade..so the fallen of the gbp is the cheapest rate nowadays...people are just selling or retrace to fill the gap.
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IAmAgainst Najib13th
Forgot to clarify.. I was just asking to understand his logic, I was not implying he was wrong.. I entered at the 618 too. Next try, 786.
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