Fibonacci Retracements- USDJPY sell limit
I'm synchronizing this to my babypips lessons gotta start somewhere #gang trying to get this "hands on" training. So I learned about fibonacci retracements and I'm placing a sell limit order: assuming that the overall downtrend continues, as seen in the 4 hour chart for USDJPY, if the retracement rallies above the 23.6 % level my order (position=sell) initiates. I set a tight stop loss in case the downtrend does not continue. The take profit is very generous to accomodate for the potential downtrend. I am chasing the #trend #gang
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