$AUDJPY 12 Nov 2010
Here is the $AUDJPY chart I mentioned earlier on. I am holding long position, with some profit booked, and stop is now at break even. This is a text book 5-0 formation where all fib levels are nicely respected.
Setup
Here is the chart to confuse you.
Have a great weekend!
Update 18 Nov 2010
The pattern works now nicely. With the weakness of JPY at the moment, and AUD gaining some strength, the pair might stretch further. But, there is also a possibility of forming triple tops, and now it is trading at the top of channel as well...so..
Here is the updated chart.
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