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_12Nov2010_50](https://tradergav.com/wp-content/Photos/2010/11/AUDJPY_12Nov2010_50-1024x556.png)
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_19Nov2010_50_update](https://tradergav.com/wp-content/Photos/2010/11/AUDJPY_19Nov2010_50_update-1024x554.png)
Great Chart. Very clear and informative charting. Saving that one. Thanks Gav
Nice one