cup and handle pattern. 82% of retail is short. We are going a lot higher. Good Luck
smartsociety
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Thanks a lot Luxuriant, it is the first time for me to know about this pattern . I read about it and understand that it is a bullish continuation signal , right ? but we may now see first some drop...
Luxuriant
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the cup and handle gives a target of 176.50. I expect a pull back at the .382 fib which sets at 168.116. It wont brake that on the 1st touch
Luxuriant
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Good luck
vlad.adrian
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keep in mind that you are fighting the BOJ with this trade which i do not think is a gud ideea
LineTracker
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Agree overall with the poster when the GBP/JPY break south? It will break! However, the Bulls have full reign right now and have been since roughly, August? Ill probably get in the selling mood when price hits 161 then follow your TP strategy. Also maybe I'm being way too conservative in my thinking but the 152-154 ranges seem to be a more realistic settling point I'll probably exit and reevaluate at that point. But eh, I'm simply a novice. What do I know? Either way? Good call. Just have to wait this one out a bit.
LineTracker
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Agree overall with the poster when the GBP/JPY break south? It will break! However, the Bulls have full reign right now and have been since roughly, August? Ill probably get in the selling mood when price hits 161 then follow your TP strategy. Also maybe I'm being way too conservative in my thinking but the 152-154 ranges seem to be a more realistic settling point I'll probably exit and reevaluate at that point. But eh, I'm simply a novice. What do I know? Either way? Good call. Just have to wait this one out a bit.