akyong
Long

GBPJPY: Bullish ABCD Pattern

FX:GBPJPY   British Pound / Japanese Yen
Potential long entry.
Just wondering about your thoughts ~~~~~
Curious why you put Pt D of the ab=cd @ the 1.533 when the
suggested "norm" or standard when A to B retraces in the .618 area
for Pt D @ 1.272 ? Which in this case would place D @ about 172.50
or the X Pt. Also a strong area of support to my eye, anyway.
And, as I think about it just now, where would be a good
place for stops that would manage both patterns.
Thanks for your thoughts and good success to the end of 2014 !!!!!
Reply
akyong PRO dojitrader
personally i take it as a one to one movement from AB to CD.
Reply
multiple support confluence area
snapshot
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