FOREX TRADERS

[ElderWolf]

Went LONG the GBP/JPY using a daily chart. It's in a consolidation pattern so I've been playing stochastics crosses waiting for the breakout. Also have confirmation on the cci crossing above zero and and the macd is gaining positive momentum. I ***ONLY*** go long at a support level. It's not drawn on the charts...but I used the fibs 100% retracement line as my support level. Went long at 208.52...minimum target is 210.30 with a possible breakout of the pattern. Target would then be an additional 1000 pips on the breakout. However...this COULD break to the downside as well but my bias is to the upside.