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楼主 |
发表于 2008-5-9 09:10
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Gbp/jpy
Hey Guys,
Here's a short term trade idea for tonight. GBP/JPY looks higher from current levels (~204.00) with targets at previous highs (209.00) initially and a discretionary second target. I'll be looking to exit half my position at 209.00 and the other half once I see five subwaves completed.
I don't see an entry as of yet, but we should get one soon. I'm looking at the five minute chart for five small waves to the upside and then a pullback. Stops will be at the lows of that five wave move. And of course, if we don't see a five wave advance, then there's no setup.
Attached Images
The possibility of a five down is my alternate count. With both counts, there should be at least a small move to the upside soon. My plan is to get long and then move stops to breakeven as soon as practical. Then, if price continues higher it's all good, and if it rolls over I'll get out at breakeven.
The chart below is a possibility of what could be happening now.
Attached Images |
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