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Michael.H
May 21, 2016 1:47 PM

GBPJPY 

British Pound/Japanese YenFXCM

Description

My view on the GBPJY pair. I believe we'll see drop further down towards the 0.618 fib level @ 158.45 before surging upwards again. This would complete an ABCD wave reach the previous structures their highs and reaching the top of the box. I believe this will be a good point to short the GJ all the way down to the trend line/bottom of the box.

The drop down is would fit perfectly with the Stoch RSI being oversold and the RSI bouncing of its upward trend line.

Trade with caution.

Comment

Currently +260 pips.

Comment

Trade closed.

Long target hit: 418 pips

Short target hit: 862 pips

Total profit: 1280 pips.
Comments
haikalwafiqhii
Nice.. thank you.
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