GBPJPY - third move down in channel

15 mar 2016

This is just early outlook how I think I could trade this one. I'll wait now for correction of breakout and then hit the short trade. As a break I'll consider any close of 60 min. candle bellow the purple line. my first target will be between 0.618 and 0.764 Fibo ret. Stop will be counted when I'll see how long it takes to break the purple line and how structured is the correction.
This is just idea. Next couple of hours will be crucial to this trade, but I am prepared to hit it.