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$AUDJPY 12 Nov 2010

by Gav Leave a Comment

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.

[tab: Setup]

Here is the chart to confuse you.

$AUDJPY 5-0

Have a great weekend!

[tab: 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.

$AUDJPY 5-0

Filed Under: Harmonic setups, Trading Journal Tagged With: 5-0, AUDJPY, FX, Trading Journal

Reader Interactions

Comments

  1. Al says

    at 1:11 pm

    Great Chart. Very clear and informative charting. Saving that one. Thanks Gav

    Reply
  2. Pipstealer says

    at 9:11 pm

    Nice one

    Reply

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I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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