EURJPY Broken Downward Channel April 20, 2017 LONG Long

FX:EURJPY1D

Euro Fx/Japanese YenFXCM

Description

⋅ Apr 20, 2017 5:20 AM

Observation:
Price breakout

Analysis:
Opportunity for Long with tight stop loss

Conclusion:
Long with tight stop loss

Comment

⋅ Apr 30, 2017 11:49 AM

Price still bullish!

Comments

Deep-Peat-Shark

⋅ Apr 20, 2017 5:33 AM

I would be careful with your tight stop loss. The French elections are coming up.

andrew-profit-trader-winner

⋅ Apr 20, 2017 9:04 AM

@ArnaudKleinveld, Hello Arnoud,

When you see my previous chart, price bounce at the support level. There is a high probability that price would correct (bearish) after it hit the targets (fib ret).

andrew-profit-trader-winner

⋅ Apr 30, 2017 11:52 AM

@ArnaudKleinveld,

Hi Arnaud, price moves up and may bounce at Dynamic Resistance

Deep-Peat-Shark

⋅ Apr 30, 2017 3:27 PM

@andrew-profit-trader-winner, I agree, fundamentals and technicals are pointing that direction.

andrew-profit-trader-winner

⋅ Apr 30, 2017 4:06 PM

@ArnaudKleinveld,
Hi Arnaud, what do you think about the fundamentals? I just draw this lines for symmetry as I believe human emotions are collectively symmetrical. Lines are drawn for guides but I still struggle with TP and SL.

Deep-Peat-Shark

⋅ Apr 30, 2017 4:15 PM

@andrew-profit-trader-winner, Well, we are in the midst of the French elections and Macron is ahead on the polls. Macron is pro euro. So going long on EUR/X is a good idea, especially when the other currency is currently weaker than normal.