British Pound / Japanese YenUpdated Possible Short or Long position
-Daily is on an uptrend
-4 hr is on a downtrend and has a fib that pulls back to 23 and has not hit -27 yet
- 1 hr is on a current downtrend but has two different fibs
.Fib 1 is on a uptrend fib that pulled back 88 and never hit -61 could go
up to hit -61 and pass the 1 hr downtrend
.Fib 2 is on a downtrend pulls back to 38 could go down to hit -27 touching
the daily trend line
-4 hr is on a downtrend and has a fib that pulls back to 23 and has not hit -27 yet
- 1 hr is on a current downtrend but has two different fibs
.Fib 1 is on a uptrend fib that pulled back 88 and never hit -61 could go
up to hit -61 and pass the 1 hr downtrend
.Fib 2 is on a downtrend pulls back to 38 could go down to hit -27 touching
the daily trend line
Trade closed: target reached
turned out to be the first Fib which made this one a Long position past the -61 and still going up as of now.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.