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Roker1
Jun 6, 2017 12:22 PM

Harmonics in play on CADJPY Long

Canadian Dollar/Japanese YenFXCM

Description

Hey guys,
this is an advanced pattern formation that's about to complete on the 4hr chart. The D point of this Bat lies right into a key level of daily support and this gives us more confidence about this trade. Stops below X, targets as usual in harmonics.

If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!

Trade active

Trade closed: target reached

Target1 hit! Stops moved to breakeven

Trade closed: target reached

Second target hit!
Comments
iammatthewkakande
Am I right in assuming you applied a margin of error to the harmonic point B?
Roker1
@iammatthewkakande, in my rules B can terminate anywhere between the 0.5 and 0.618 Fibonacci retracement of XA.
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