GBPJPY analysis - waiting for retracement to complete...

chart h1 - 1.15 pm Malaysia
price is testing fibo 50% level of yesterday hi-lo
downwards journey should only be confirmed when the blue trendline is broken...

h4 chart at 6 pm Malaysia
price rejection at 23.6% fibo level???
last candle closed as a pinbar
strong indication that retracement has completed...
just be careful and keep looking for best entry to sell
9.30 pm - called it a day.... price action too erratic...
managed to get 17 pips only whole day :))


  • hi GJ.trader

    i like to know what's name of fibo indicator u use in graph.
    my fibo indi have no price and no extend fibo.


  • it is just a normal fibo retracement at mt4. to add price at the fibo levels, see here

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