GBPJPY analysis - still out of trade...

chart h1 - 3.10 pm Malaysia

Still out of trade. Price is in no man's land.

Take note that NFP will be out tonight...
5.30 pm - decided to go short at 138.41
price has closed below nearest support
a three inside down pattern is in progress on the h4 chart
stop loss placed slightly above nearest resistance (139.47)
106 pip risk or 3.5% of my equity
target projection: 135.90 (161.8% fib level of
yesterday's hi-lo)

6.00 pm - yesterday's low broken
+50; SL rest at +1
stopped out at +40
11.55 pm - went short half an hour ago at 139.55
as the price bounced off fib 38.2 level
now +117; SL rest at +50
target projection still at 135.90
see the chart below to see how the beast loves the fibs..


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