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UnknownUnicorn195474
Oct 27, 2015 1:23 AM

GBPJPY Long trade set up Long

British Pound/Japanese YenFXCM

Description

price has broken the channel, will be looking for an extension from a minor head and shoulders pattern down to the days s2, and the 200 ma and previous support and resistance. Price may stop on todays s1 and reverse there. however I think the head and shoulders formation will push it lower. you can also see long wicks breaking the s1 level.

Recommend entering 184.750
profit should be 185.250 however could go all the way back to the .382 fib level.
stoploss 184.400

Careful of any news!

Comments
giankee
Spot on!
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