GBPJPY I stay like yesterday on a daily perspective to show the very strong selling wick we have had yesterday during the US session when the price action met the daily Fibonacci 0.618. I wasn't expecting the quotation to reach the daily Fibonacci but I kept in mind the daily structure without changing my view because of a short term correction. My second Short entry gave me 70 pips so more than 100 pips in that 2 Short entries on yesterday. Because the daily structure is giving 2 selling wicks the Bearish bias to reach the target of 141 handles is still valid.
The pair is now in a trading range, My current area of interest is starting from 143 to 144.
A cross of the 143 handles can provide the range breakout signal I am waiting for.
Trade active
Superb Short Entry @143.53. Let's see if we have the velocity to penetrate the supportTrade active
The first target @ 143.00 was reached. The 143 level was penetrated. A very weak rejection is opening the way to target the 0.5% Fibonacci level @142.6xTrade closed: target reached
I exceeded my daily target of 142.6x by 20 pips. An Imprisssesive bearish momentum correction of 120 pips was achieved todayTrade closed: target reached
I exceeded my daily target of 142.6x by 20 pips. An Imprisssesive bearish momentum correction of 120 pips was achieved today
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.