GBPJPY 4 hour SELL

Mar 13, 2020The reasons:
1. Price touched EMA 21 a few times and after that, was going down. So I suggest in this time it will be the same.
2. We have resistance zone;
3. We don't have STRONG support zone on 131.50 that allow price to go up;

So, I make Sell Stop on 131.10 level. If price will break it down I'll open an order.

SL: 134.35
TP: 128.50 because it'll be 100% of Fibo Retracement; If it'll be STRONG Movement, the price can go to 127.00.

RR = 1:3.7 or 1:5

Let me know, what do you think?

Mar 15, 2020

Comment

I think, the best way now to change SL from 134.350 to 133.100. So if you do like this, you won't lose money, if price will go against you.

Mar 16, 2020

Comment

For now I changed SL to 132.00, so in any way I have profit from this order.
As we can see, the last candle is very bearish, so I think we can change TP to 127.00

Mar 16, 2020

Comment

I closed a position on 130.00.
I think it'll make some long to 131.00-131.50 and will make some short again. Be ready