GBPJPY analysis - h4 chart as of 7.30 am today



chart 4 - 7.20 am Malaysia

There is no gap at market opening today. Both my sell positions are now in profit and covered already. [-o<

I am watching whether the price would re-test the confluence of the two trendlines (which is at 134.50 area) or not.
UPDATE:
  8.00 am - decided to close 1 post at +177
            the other post is now +227; SL rest at +70
 10.15 am - added another sell at 139.09
            reasons: 1. fib 38.20% rejection
                     2. trendline failure
            stop loss at 139.59 (50 pips risk)
            see 15 min chart below
  

 11.11 am - +50; SL rest at +1
  2.26 pm - stopped out at +13
            pips banked in today : 177+13 = 190 pips [-o<
            1st sell position is still in play +177
  7.00 pm - price is now testing the crucial support level
            let's pray the beast dive down to my target [-o<
       

  8.30 pm - support broken
            now testing Friday's low
            +388 now B-)
 10.50 pm - price is ranging...
            might be waiting for ISM result at 11 pm
            already lock some profit 
            will accept whatever market gives
QUOTE OF THE DAY:

"Professionals take a trade when they are comfortable with the risk, while amateurs do it when they like the potential profit. - Vadym Graifer"

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