"Wait for Retrace then Go long" by trader Ni_Toni — published May 11, 2016

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British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

FX:GBPJPY is retracing to Fib .50 / .618
Watch out for buy signal around 156.00
OR
Wait for price to close above 158.00 then go long for completion of AB=CD pattern

Possible Take Profit @ 160.00/50

Comment: Retrace complete-wait for buy set-up then go long
Expecting a big long move here

Good luck

Trade closed: target reached

Related Ideas

about EURJPY

Buy on break of trend line

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