Tuesday, 14 February 2012

GBP/JPY Analysis

Strong move up on the daily timeframe.

- Big bullish candle
- Moving averages pointing up
- Trend up

Looking to go long on a 50% retrace of the daily candle.

Order set as below:

STOP: 12160
ENTRY: 12240
LIMIT: 12440

RISK/REWARD: 3/1

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