Pair headed towards resistance likely to hit around .236 fibonacci level of the greater sideways channel that coincides with the more short term downwards channel. RSI is also oversold. High probability with fibonacci, channel support, and common indicator RSI. Set stop loss at .5% and stand to gain 10% with five times leverage while keeping in line with the 2% rule in possibly just a week or two. Buy UsdJpy.
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Note
This again is high probability not certain. There is a chance that there is a breakdown below the channel though the odds are not in its favor. Always take the necessary precautions.Note
similar pattern emerging on Audjpy. All pairs affect each other giving this even more likelyhood of success.Note
Of course wait until the proper entry point.Note
the take profit is at the short term .618 retracementNote
don't really like the entry but it should be fine. Don't say I didn't warn you though.Note
man I am good at thisNote
Take some profit if you likeDisclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.