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ForeverNewbie
Mar 6, 2018 12:09 PM

GBPJPY back in the wedge + bull Long

British Pound/Japanese YenFXCM

Description

On the D1 there is a nice wedge. For a while the price has dropped off the wedge and with today's sprint it is getting back in (or it is already in depending where exactly your trend lines are). The bull will continue until it hits the top of the wedge (or near). My TP is 155.800 (let's not be greedy, if 700pips are ok then so are 650.

RSI seems to support this, I see that there is a lot of push.
Stoch (not here) also crossed at 10 and is rising.
On my MACD the signal is about to escape the main.
Comments
mohammadrafiee
ForeverNewbie
@mohammadrafiee, I see we have a disagreement here on the strategy/reading :)

I believe that trend/price will get back into the channel and continue the flow in there, until/unless something dramatic comes up.

I see your IKH and is seems that it has exactly the same pattern as in the May16-May31 (which lead to a bull) and I see that Kumo(s) have the same pattern as the latest 15 days.

I wish both of us profits either way! :)
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