Here is a trading opportunity that is only valid today’s daily candle on GBPJPY.
Here we have a Daily TL (3rd touch), along with the 50.00% Daily Fib. Should we not reach the 134.472 area today, then this trade is invalid. However, GJ is a big, big mover - so it is realistic. If we do, it could be a nice short. Possibly to the 38.2% area (potential to buy here). It could be a nice 240 pip catch to the downside.
I posted a couple weeks ago about the area just above (61.8% Fib and 200 moving average. This is another area where I’m looking to short in the future, as this will be a nice swing down.
Let me know what you think below, thank you!
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You maybe right this could be a good short. However it will be interesting to see if price is currently testing the break down of support or whether that is a failed bear breakout of a trading range.
80% of the first break outs fail and seeing as this is first I’m guessing that price may range a bit further before a break out occurs.
Here is what I’m saying on my charts.
Cheers
Blackduck
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not trading this pair today but will follow yours 
nice use of fibs and good luck bro
seems to be dropping slowly, not got on it myself
Not on my pairs today but I will be following for sure
I’m thinking we may get a move to the downside as well on this one.
Follow on from your analysis. Two days later.
Looking like it is about to continue down and maybe will test the low.
Cheers
Blackduck
It’s still playing in that region. Not sure any breakout is confirmed
Day 3 what about now?? Sorry the date is wrong it should be 14/05/20
Cheers
Blackduck
