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RaynLim
Oct 15, 2023 5:52 PM

Strong Bullish Trend for High Returns! Long

U.S. Dollar/Japanese YenFXCM

Description

The USDJPY is currently experiencing an upward trend. To capitalize on this trend, I plan to wait for a chance to buy at the Fib-3 Bat Pattern completion on the 1-hourly chart at 149.09.

However, it's important to note that both the 4-hour and daily charts show a Bearish Harmonic Pattern that completes at a similar level of 150.41. As such, it would be best to wait for a candlestick pattern completion before considering a counter-trend trade.
Comments
Finchcliffe
Great charts, thanks for sharing, completely agree!!
TheFxAce
Intriguing buy idea. How do you consider overall market sentiment in your trade decisions?
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