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Thread: Chart of the Day

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#286 (permalink)

06-08-2009, 01:06 PM

Thomas Long Thomas Long is offline

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Quote:

Originally Posted by Dconnell

Hey Tom, check this out:

Looks like a flag to me, which would imply Chf/Jpy losses in the near future.

Any thoughts?

A short-term top is possible, but with the trend being up, I would prefer to wait for a pullback down to support and then look for a reversal to buy this pair. I also see where the GBP/CHF has been moving up since the beginning of the year meaning that the GBP has been stronger than the CHF. So buying the GBP/JPY might offer a better trading opportunity than buying the CHF/JPY. Just my opinion.

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