GBPUSD 1h fib 61.8 tp

28 Mar 2018

Using 100 and 200 SMAs, I saw the price dip below the 200 line. As it had already been under the 100, the bias was bearish; the crossover of 200 is a confirmation and potential beginning of downtrend. I placed a sell order with SL @ the 200 SMA value to minimize risk and a TP @ 1.39964. I found this value with the fib retrace. This value also lines up with a remembered value line from March 20th, so I feel confident. Fingers crossed!

4 Apr 2018

Catatan

With three price tests @ 1.4015, I closed the order with a profit. I interpreted this as a potential support, and a strong one at that.