Stop Run Under 5/24/2015 Lows Long

Euro Fx/Japanese YenFXCM

Description

⋅ May 25, 2015 4:20 PM

Market has been sideways overnight, boring traders and luring in more short interest. Protective long stops under 5/24/2015 lows have been cleared. Looking for market to get up to our yellow (slanted) parallel lines.

Also note bullish divergence on CCI (black lines), in coordination with current megaphone pattern.

Target 1: 135.33
Target 2: 135.77

money2mauiforexsignalservice EURJPY

Comments

isomorph

⋅ May 26, 2015 1:25 AM

also note how EURJPY cannot be considered independently of EURUSD. as the latter goes down, so does the former.

isomorph

⋅ May 26, 2015 12:53 AM

here's all you need to know: news.forexlive.com/!/wall-street-journal-money-managers-slash-wagers-against-japanese-currency-20150526

daily looks like a weight pulling it down now below the TDm midline. usually daily momentum doesn't suddenly stop and reverse 200+ pips. hence... lower she goes to WS1 and maybe MPP. (same daily chart i posted last week).

EURObull

⋅ May 26, 2015 4:33 PM

We pulled longs just over the 134.07's this morning. Consolidation and chop here while the market looks to confuse traders and yesterday was one of our best yet. Lots of longs and shorts within the megaphone patterns. Hope your trading is going well also!