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Corporal.Forex
Aug 8, 2014 5:31 PM

after blowing through 2 supports, supply will pull price back up Long

British Pound/Japanese YenFXCM

Description

after the price blew past the 1st and 2nd supports on the D1 chart—and nearly a 3rd—the physics of supply will compel the price to return to the PP @ 172.04. hopefully, there will be enough momentum to take the price even further to the 50% Fibonacci level off the swing low.

Buy Stop @ 171.238
Pivot Point @ 172.040
Take Profit 1 @ 173.020 (50%)
Take Profit 2 @ 173.570 (61.8%)
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