This was a great trade. I didn't get to post it as GBPJPY was my focus, though it should be like my EURJPY idea. It's the same set up.
You have the break of market structure, then a mini pullback. - (sometimes you don't get a pullback if not I fib from the bottom support of the market structure) I fib the pullback (higher low) to the high. I then wait for the retracement to the golden zone. I then see if price is being respected through candle stick formations when in the golden zone. After I see if there's other confluences e.g. the 200MA helped to identify this was going to hold. (The SMA cross really gave me a confidence boost at .382)
Risk 1.5% Stop loss at B/E when TP1 hits. TP1 / @ 0 / 30% TP2 / @ .25 / 40% TP3 / @ -.618 / 30%
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