My Ironclad Rule

"It's not how many pips you make, It's how much risk you take"

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Friday, April 9, 2010

GBPJPY : Bullish Gartley


I was wandering why did this pair stop at 141 while it can drop further to 140.50. Then I adjusted my lines and found that this pair has just completed its bullish gartley. After a decent breakout from the descending channel or flag, I buy this pair at 143.30 with stop at 142.50 and target at 144.80.

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