For most of Nov/Dec GBPJPY was rangebound. Sometimes I find that fibbing the range with the extensions in the direction of the underlying trend can give me good confluence of levels to work off when it does break out. Here you can see that initially the 1.272 ext held 3 times before breaking out. Next was the golden 1.618 which held fantastically numerous times...
GBPUSD Broke the H1 level market structure to the downside. I then entered a limit order at the last naked lows 36.97. Price bounced a few pips before then collapsed. This left a very bearish candle resting right on the 4H trendline. If I chased, the RR would have been diminished. Notice the 0300 candle came in to sweep those last remaining pips up before...
