SantanderCapital
Short

EUR/JPY Rising Wedge

FX:EURJPY   Euro Fx/Japanese Yen
261 2 10
Chart: Daily Time frame
Market: Bearish Trend

Bearish Indicators
1. Double top found at key 128.000 resistance level
2. Bearish Engulfing Candle (1st of April             )
3. Price rejects 128.000
4. Rising wedge chart pattern
5. Double top & bearish engulfing pattern are all found just below the daily/weekly trendline resistance level

Risk Management
Risk/Reward Trade 1 - 1:1.70
Risk/Reward Trade 2 - 1:2.96
Stop Zone (trade 1 & 2) - 128.380 (just above 31st of march high)
Target 1 - 125.500
Target 2 - 124.100

Note: Price could pull back 127.600 before continuing lower, trade with caution.

Agree/Disagree? Comment Below!
Comment: Trade 1, Target 1 reached.
Comment: Trade 2, Move stop to break even.
Comment: Trade 2, Stop Moved to 126.750
Comment: Trade 2, Stop Moved to 125.780
Comment: Trade 2: Further downside expected over the next week, T/P moved to next level 123.400
Comment: Trade 2: Target Reached. Trade closed.
Very good setup.Thank you dude ! I am also waiting for a short but only if price retraces and touch TL
Reply
Glad you like it. Anytime. ;)
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out