GBPJPY SHORT Why are we entering? - Expecting JPY strength - We are waiting for rejection from our structure level and fibonacci
What is our confirmation? - Break of WFB trendline and 1HR EMA - Rejection from structure and fibonacci
Entry - Safe Entry: Break of WFB trendline & 1HR EMA with Rejection from structure and fibonacci - RISK Entry: Rejection from structure and fibonacci - RISK Entry 2: Early break of WFB trendline / 1HR EMA
Once entered, where will our Stoploss be? - Above structure & fibonacci / previous high (166.4) 30 pips - Move SL to BE after running 30 pips
Where do we take profits? - Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips) - First TP previous low :161.1 (500pips) - Final TP: Structure & ascending channel 152.5 (1360 pips)
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