What information can we derived on EURJPY daily chart?
1. Price reverse from the swing high trendline and made a heavy bearish move last Friday 2. Price broke below trendline and structural level 3. Stoch at the highest level signaling the beginning of reversal trend and to go long at this level is not advisable 4. Yen Index spike last Friday from the support level indicating a weakness in its traded pairs i.e. XXXJPY = Bearish
Overall bias = Bearish
Using simple entry technique
Step 1: Waiting for price to retest the broken structural level (Look on lower TF)
Step 2: Entry point after the above has fully satisfied with SL above the highest candle. Use any indicator that suits you