Reasons for
-Long term downTrend Which has been making Lower lows And Lower HIghs And i feel like weve made a new Low at a key area and are ready for a small reversal and correction before we see any more bearish movement
-We have hit two KEY trend lines and have shown support and looking like we are getting bullish momentum
-As we can see by previous candle we got a bullish engulfing which signifies Momentum
-Altho going long is risky as its counter trend i am willing to take the risk and enter long as technicals all play out and looks like a great time to go long to catch the correction
you cold possibly wait for a retrace before going long
but that for you to decide :)
Also my EUR/JPY setup is exactly the same as this they both correlate so maybe split up the risk between the two or pick one of them
My entry price 113.85
Remember this trade is Risky simply because its counter trend
Happy Trading
LOOK AT OTHER SETUP THAT SWITCHES WITH THIS :)
-Long term downTrend Which has been making Lower lows And Lower HIghs And i feel like weve made a new Low at a key area and are ready for a small reversal and correction before we see any more bearish movement
-We have hit two KEY trend lines and have shown support and looking like we are getting bullish momentum
-As we can see by previous candle we got a bullish engulfing which signifies Momentum
-Altho going long is risky as its counter trend i am willing to take the risk and enter long as technicals all play out and looks like a great time to go long to catch the correction
you cold possibly wait for a retrace before going long
but that for you to decide :)
Also my EUR/JPY setup is exactly the same as this they both correlate so maybe split up the risk between the two or pick one of them
My entry price 113.85
Remember this trade is Risky simply because its counter trend
Happy Trading
LOOK AT OTHER SETUP THAT SWITCHES WITH THIS :)
Trade closed: stop reached:
unlucky with this one
