Dreadlegion
Short

Usdjpy short fib retrace

FX:USDJPY   U.S. Dollar / Japanese Yen
I have already entered this trade as of now in between working my normal job. I want to short the pullback on that huge run up. My take profit is set for 102.5 near the .5 retrace. I am expecting it to hit the monthly/weekly ghost pivot (purple m) or go as far as the weekly pivot at the .618 retrace.
Trade closed: stop reached: Trade closed at stop for a profit of 245 on a 1.0 lot. I will look for a good re-entry and pursue this until the end of the week because I don't think it is done yet.
BUT we shall se
Reply
TradZ TradZ
I rarely use fibs but am starting to incorporate into my trading. Someone here helped by showing me the top to bottom adding of fibs but I believe this is only handy when the market is going down - when up, it's good to start 4rm bottom to top, 4rm my experience:) Keep it up!
Reply
I believe your Fibs are placed incorrectly. If you start from top to bottom and go no further than the bottom of green bar, you will see a retracement@103.35 area on the 0.618:)
Reply
Ah ok thanks. I'm still new to the fib thing but you are probably right. Using that low point seemed good to establish a low low.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out