GBPJPY analysis - still in bearish mode...

chart 30min - 12.50 pm Malaysia

Went short at 136.44; stop loss placed at 136.94 (50 pips risk).
  • price is below h4 major trendline
  • failure to reach 61.8% fib is usually an indication that the market is in bearish mode
  • price broke recent support on the 30 min chart
Possible target: 133.84 (161.8% fib level of yesterday hi-lo).
2.12 pm - price went up and missed my stop loss by 4 pip
now +30; SL rest at +1
3.00 pm - stopped out at +11
will stay out and watch whether 135.50 will be
broken or not


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