Here you can see on the
chart below AUDJPY H4 a Buy Signal at 77.75
and still running with a high of 79.50 as of 23 Dec 11.
This Buy trend started on 20 December 2011 and still going on at the
time of posting and have generated 175 pips of profit.
You can notice as well on the chart below the Fibonacci Expansion and
given us the next 2 targets as 79.84 and 80.51. CAUTION:
That is if we do not receive an exit signal before.
Note:
Fibonacci Expansion is largely similar to Fibonacci Retracement and
intended for determining of the end of the third wave. Unlike
Fibonacci Retracement, this instrument (Fibonacci Expansion) is built
not on the only one trend line, but
on two Trend Lines.
If you want more info about Fibonacci you can visit our
following link: http://www.fxs4.com/fibonacci.html
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