GBPJPY - Short Idea

I have been in and out of this pair for the last few weeks.

I see a short. It's a perfect 2:1 but we all know nothing is perfect in trading.

I have a limit order set to snag the short.

Trade outlined.

Yellow Flag news tomorrow night for JPY...safe to proceed.

Note

I could see price dropping from here and not even getting to that 38.2% Fib level...

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we did get to that beauty 38.2% level and now dropping..great!

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not stopped yet...but that was a reversal...I have been trading light for these reasons these days...everything is nuts.

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hit the Stop. yikes.

MattArmstrong

I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.

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MattArmstrong

I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.