Akil_Stokes
Short

EURJPY: Retest of Descending Triangle Lows

FX:EURJPY   Euro Fx/Japanese Yen
After breaking out from a descending triangle , price action is pulling back into the lows providing potential selling opportunities at the retest.

Still on the radar a little lower is the potential bullish bat formation which could be taken into consideration when looking at potential levels target taking.

very nice setup, I'm watching the same level based on fibo megaconfluence. also you could say we have an ab=cd setting up on the pullback for bonus weight to the area
good trading cheers

EURJPY sell setup on megaconfluence H1
+1 Reply
Thanks Wig
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Iluminati triangle hahaha just kidding.greate set up
+1 Reply
lol Shh...don't tell anybody.
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Later on I'll be waiting for this.
snapshot
+2 Reply
Akil_Stokes PRO purpurato59
I've got the same thing on my radar! Nice spot
+1 Reply
Good idea, however there's an ECB meeting today so keep an eye on that (in 45 mins). Best of luck with your trades!
+1 Reply
Akil_Stokes PRO DzhuneytYusein
Thanks, the Min Bid rate is actually in 45mins. The ECB is a little later (8:30 ny).
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nice. I like it:)
+1 Reply
Akil_Stokes PRO Alexander_Nikitin
Thank you
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Hey Akil. How are you? Could you please clarify for me, where should I place stops loss for such continuation trade? Should it be above the first (highest) triangle swing or the last one (lowest)? Thanks :)
+1 Reply
Akil_Stokes PRO ErnestasKvedaras
It really depends on how you go about approaching the trade. In general above the highest swing would be your safest place, but you don;t necessarily need to open yourself up to that much risk.
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ErnestasKvedaras Akil_Stokes
Thanks
+1 Reply
Akil_Stokes PRO ErnestasKvedaras
No problem, wish i could give you a better explanation but it's a difficult task to write all of the options out
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ErnestasKvedaras Akil_Stokes
I understand :) Anyway, knowing that the highest swing is the safest, but bigger risk and different area could be used depending on entry reason is good enough guidance ;)
+1 Reply
Akil_Stokes PRO ErnestasKvedaras
Awesome!!! Glad i could lend some assistance
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Got stopped out by the spike i'm in again....thanks for the reassurance
+1 Reply
Sorry to hear that man. Start prepping for the next good trade
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u got it all sorted out man :D
+1 Reply
Thank you
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