FX.co ★ ckerluke | GBP/JPY

Movement of GBPJPY according to Fibonacci magic numbers. The current price of 214.255 residing in the area between Fibonacci levels 100 (214.183) and 150 (214.627) allows decisions in favor of buying. That's exactly what I'm going to do. The growth will target level 176.4 (214.862). Once 176.4 (214.862) is reached, I will close everything. This is one of the most interesting levels in the Fibonacci grid. Reversals often occur from it, half of which are impulsive movements or its breakout also occurs impulsively. If you don't close at this level, the profit gained can be quickly lost. A drop below the area of 100 (214.183) and 150 (214.627) makes me consider selling. In this scenario, one should not buy, but wait for a pullback to the broken 100 (214.183) and sell on the pullback towards level 50 (213.738). Then towards level 38.2 (213.634), while level 23.6 (213.504) reflects the 176.4 level, where reversal moments often occur with volatile candles. Therefore, I cover my sells at this level, or move to a breakeven state.