Hello everybody,
I have an interesting idea for you today.
EUR/JPY can't break the support from 116.400- 116.390 and after the price was rejected , jump at 118.
In my opinion he have two scenarios here.
Scenario A and the most likely to happen sounds like this :
The price hit the 118.500 - 119.000 and reverse, that is the area where I want to enter in a Short trade.
The EUR is weaker, keep in mind that JPY is a safe heaven so it will be at the high prices most of the time.
I'm aiming an other visit at the 116.400 and 116.000 and to pass that zone to 112.000 the lowest price at the second part of 2016.
Also please if you enter in this trade, at the 116.40 scale out your trade, close 1/2 of the trade in our journey to 112.000, remember, this trade till 112.000 it could take several days.
Put your SL at 119.000 after you enter in this trade and TP1 at 116.400, TP2 112.000.
KEEP IN MIND !!! This trade is good to go just when the price test that area, in this moment we can not place any kind of trade.
Scenario B :
The price pass easly the 119.000 area and after that we aim the 121.000 and 122.000
In my opinion this scenario has 20% chances to happen.
Have a nice day and please leave me a comment if you have an other idea and other view about this trade.
Also show me you support using LIKE and FOLLOW !
THANK YOU FOR YOUR TIME !!!
I have an interesting idea for you today.
EUR/JPY can't break the support from 116.400- 116.390 and after the price was rejected , jump at 118.
In my opinion he have two scenarios here.
Scenario A and the most likely to happen sounds like this :
The price hit the 118.500 - 119.000 and reverse, that is the area where I want to enter in a Short trade.
The EUR is weaker, keep in mind that JPY is a safe heaven so it will be at the high prices most of the time.
I'm aiming an other visit at the 116.400 and 116.000 and to pass that zone to 112.000 the lowest price at the second part of 2016.
Also please if you enter in this trade, at the 116.40 scale out your trade, close 1/2 of the trade in our journey to 112.000, remember, this trade till 112.000 it could take several days.
Put your SL at 119.000 after you enter in this trade and TP1 at 116.400, TP2 112.000.
KEEP IN MIND !!! This trade is good to go just when the price test that area, in this moment we can not place any kind of trade.
Scenario B :
The price pass easly the 119.000 area and after that we aim the 121.000 and 122.000
In my opinion this scenario has 20% chances to happen.
Have a nice day and please leave me a comment if you have an other idea and other view about this trade.
Also show me you support using LIKE and FOLLOW !
THANK YOU FOR YOUR TIME !!!