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British Pound / Japanese Yen
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Upcoming correction ahead

112
We have a very beautifully market constellation. The price reached the 1,618 extension of the privious bearish leg. The 0,382 retracement of the current bullish leg is exactly the previous leg. Thus, I look for a confirmation of a upcoming correction to go short. Taking RSI into consideration, it shows divergence already.



What do you think?
Your Likes much appreciated.
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JPY shows some weakness after strong bullish movements since beginning of November. I am going to increase my position with next possibility and good Risk/Reward-Ratio. However, trading correction might be mind stressful.
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Increased my position. The opening of the UK-stock will be important. snapshot
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Break of the last low.
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Trade closed: target reached
First target reached.
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John_Boba
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John_Boba

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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.