Cable Yen reached a strong support zone @0.382 Fibo. Assume it's a normal retracement pattern. our long-term target will be set @157.70. SL @146.00. We need to wait for a clear reverse signal like a pinbar or engulfing later today and during next week.
But of course, the retracement could well not stop there and instead turn into another crushing bear. It can also be a potencial breakout short opportunity.
It's a long term strategy. We also need pay attention to Brexit progress and the prime minister's resignation.
Good luck!
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After the Engulfing pattern in Day chart. The trade ran as we hope. Our 1st kick should be at 152.86 (former high).