Hey guys, here with another simple one!
Expecting price to retrace into the golden zone within 50% of the Fibonacci.
1. Sell limit order when in Golden Zone, sell is supported by previous support turned resistance.
2. T/P on the 40pip mark to the downside
Notes--> RSI has enough steam to get into the golden zone at any given...
On significant resistance level - FX:USDJPY 40 pips in 4.5 hours
Doji and a following Bearish hanging man - could have entered here, little riskier but better RR
Also could have entered after the Bearish engulfing / completion of evening star after market has shown you were momentum is going
at either entry point, very little draw down . much easier to trade...