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nivelij01

Potential Long Setup Upon Retracement

Long
Livre sterling / Yen japonais (FX:GBPJPY)  
nivelij01 Mis à jour   
FX:GBPJPY   Livre sterling / Yen japonais
Support and Resistance Candlestick Analysis Moving Averages Relative Strength Index (RSI)
3
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supportandresistance candlestick movingaverage relativestrengthindex
GBPJPY daily has just crossed the EMA(50) which is a clear confirmation signal that trend will be reversing to up-trend. A retracement to 143 level will give us a good entry for long order, with SL right below the previous support line. I don't believe it will be good to buy now as Stochastic indicator is now nearing the oversold territory.
Commentaire:
Missed out the trade as the price didn't re-trace to EMA(50). Waiting for next retracement and it looks good for another bullish continuation.
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