moneymaking
Short

EURJPY: SHORT TRADE BASED ON SIMPLE PRICE ACTION WITH GOOD R:R!!

FX:EURJPY   Euro Fx/Japanese Yen
Hello Traders,

Here we have a potential short trade based on SIMPLE PRICE ACTION with great risk to reward. Based on 4 HR             , Daily, and Weekly, market has broken and closed below the previous structure support (HL), which is an early signal of trend change for this pair, at least for the short term. Currently market is coming close the 4 hour potential reversal zone (PRZ) from where we can expect market to reverse back to the downside and possibly break the newly formed LL @ 132.23. We are able hide our stop loss above the key psychological level of 136.00. We also getting a valid ABCD pattern completing right at our 1st target. See the chart above for more details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
UPDATE #2: Stopped out on this trade. Looking towards better trading setups in the future :)
Reply
UPDATE #1: Trade is ACTIVE now !!
Reply
Hello, interesting, this is one of my prefered setups, i calle it convergence divergence. Sometimes coincides with the 2168 setup on H4 chart with SL againt last highs, the higher the prices retraces the better. My prefered retracement is 0.618. I will look for shorts on H4 charts. Regards.
+1 Reply
moneymaking FullTimeTrader
Hey mate, thank you. Yeah, I will also look for the 61.8 level to get better entry price. All the BEST :)
Reply
Looks great.
+1 Reply
moneymaking IvanLabrie
Hey Ivan, how you doing mate? Yeah thank you, I really like the risk to reward. All the BEST :)
Reply
IvanLabrie PRO moneymaking
:D
Check out AUDUSD 30m, upcoming RBA events today. Might give us some short term pips down.
+1 Reply
moneymaking IvanLabrie
Ohh yes, I sure will. Thank you for the reminder :)
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex 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