On
EURJPY
, the price dropping last few hours; sellers are in control of the market and the question is where is the zone, when the buyers step in and sellers start taking profits?
The markets is going upward on 1H bars, as it did Higher High and Higher Low swings. The next structure low is around 131.255, which is our key zone. There is a trendline (dynamic support) and support area . Plus, the Fibonacci retracement 61.8% exactly hits this key zone. Thus, those confluences together, give a high probability set-up to go long, when the price gets close to that PRZ zone.
Note: Conservative traders can wait reversal confirmation and then enter the market.
------------------------------------------------------------------------------------------------------------------------------------------------------
TOP 10 Forex Broker: www.best10forex.com
TOP 10 Binary Options Brokers: www.binaryreviewed.com
EURJPY
, the price dropping last few hours; sellers are in control of the market and the question is where is the zone, when the buyers step in and sellers start taking profits? The markets is going upward on 1H bars, as it did Higher High and Higher Low swings. The next structure low is around 131.255, which is our key zone. There is a trendline (dynamic support) and support area . Plus, the Fibonacci retracement 61.8% exactly hits this key zone. Thus, those confluences together, give a high probability set-up to go long, when the price gets close to that PRZ zone.
Note: Conservative traders can wait reversal confirmation and then enter the market.
------------------------------------------------------------------------------------------------------------------------------------------------------
TOP 10 Forex Broker: www.best10forex.com
TOP 10 Binary Options Brokers: www.binaryreviewed.com
Comment:
Price reversed little early
