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ForceFollower
Apr 4, 2014 7:31 AM

NZDJPY Buy Setup Long

New Zealand Dollar/Japanese YenFXCM

Description

In a long-term (H4) up trend, setting up for another rally. Probably bouncing off the support level at the alternate low. It can make it to 89.21 or to the pink upper median line parallel, or even higher. If failed (markets are imperfect), you'll know it very soon. :-)
Comments
ForceFollower
I think it's heading for 87.26 now.
ForceFollower
Sorry, I'm still bullish here and I meant: 89.26. :-)
itaskar
really nice
ForceFollower
Thanks. It was quite scary and hard to trade, because during the NFP event my broker widened the spread to enormous extent, but luckily market conformed to my expectations. Now, I'm long again, giving it the last chance to work for me, looking to TP at 88.97. Let's see how it pans out.
itaskar
my first target here 90.00, second 91.00 :)
itaskar
ForceFollower
You're right about the whole number 90. This market has failed to reach it, while being so close to it, so it may want to repeat the endeavor to test it. I just didn't like how deep it had retraced and then failed to break through the resistance at 89.2. But, given this ongoing bounce off the long-term trend line, I'm thinking about leaving a part of my position running to 90...
ForceFollower
Maybe I'm impatient, but out of caution I've closed my position at 89.18.
motleifaul
It's all right and was agood deal taking into account that it was on a 15 minutes chart.
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