Tuesday, May 27, 2014

Bullish three-drives seen in USD/JPY

I maintained an open long position for USD/JPY at 101.084 since 21/5 and another one at 101.873 today. Both were closed at 102.081. Harmonics pointed to a bullish three-drives as seen in the chart below:



The Fibonacci ratios are met and should give a green light for a buy.

In addition to these positions, I managed to place a few scalps here and there based on support and resistance.

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