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Sunday, 2 December 2012

USD/JPY H4 Update + TPI

Rationale:

Wave 4 might bottom but for that to be sure the price must develop more impulsive progression now and takeout the old high of wave 3. In that outlook in mind, buying is the right action.

Nevertheless, if price broke through 82.20 level and voids the count, selling in anticipation of new low is highy desireable.

Entry:
Buy the dip into 82.20 area.
SL: 82:09
TP1:83.20
R/R:10:1

If green line broken then
Entry:
Sell the spikes into 82.20 area
SL:82.35
TP:81:80


Take care,
Seb


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