Yes.. I got 100 pips in two separate bounces off the fib but I think I would rather sell strength to the 61.8% retracement level.. It's no longer oversold on the 1HR Stochastics
Alright here's another impending beauty.. Notice the double top on the EUR/JPY dailies and then look at the reading on 1HR stochastics.. if EUR/JPY continues to rally we will see another attempt on this double top and the stochastics will be screaming overbought simultaneously at 60+.. Essentially, we could see a triple top and that would tend to magnify selling of EUR/JPY to our great favor. This could be a 700 pip trade..
One thing that's a bit quirky about this trade is that the 50% fib level on the WEEKLIES comes in at 1.345 so you have the option of using less leverage and burying your stop behind the GIANT FIB LEVEL or you can just use a standard 35 pip stop, or two trades...
I'm putting my stop loss 25 pips behind the fib and doubling the lots 10 pips in front of the fib thereby risking approx $2,500 for a potential $28,000+ trade..