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McQuant
Feb 23, 2014 5:48 PM

Long oppty during harmonical is finding its C point. Long

U.S. Dollar/Japanese YenFXCM

Description

This currently emerging harmonic pattern is finding its C point. So unless 102.54/38.2 won't hold price could experience way up to 61.8/78.6 or even 88.6 depends on momentum next week.
So my primary trading plan is to go long once price touch the rising trend line and bounce.
With that being said in case trend line is broken down I'm going short (with oscillator confluence or at point where price is retesting trend line from downside). In such case profit target level lies somewhere at 98.00.
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