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.

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wigtrade
2 months ago
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
Akil_Stokes TOP wigtrade
2 months ago
Thanks Wig
Reply
eni1993
2 months ago
Iluminati triangle hahaha just kidding.greate set up
+1 Reply
Akil_Stokes TOP eni1993
2 months ago
lol Shh...don't tell anybody.
Reply
purpurato59 PRO
2 months ago
Later on I'll be waiting for this.
snapshot
+2 Reply
Akil_Stokes TOP purpurato59
2 months ago
I've got the same thing on my radar! Nice spot
+1 Reply
DzhuneytYusein
2 months ago
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 TOP DzhuneytYusein
2 months ago
Thanks, the Min Bid rate is actually in 45mins. The ECB is a little later (8:30 ny).
Reply
nice. I like it:)
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
2 months ago
Thank you
Reply
ErnestasKvedaras
2 months ago
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 TOP ErnestasKvedaras
2 months ago
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.
Reply
ErnestasKvedaras Akil_Stokes
2 months ago
Thanks
+1 Reply
Akil_Stokes TOP ErnestasKvedaras
2 months ago
No problem, wish i could give you a better explanation but it's a difficult task to write all of the options out
Reply
ErnestasKvedaras Akil_Stokes
2 months ago
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 TOP ErnestasKvedaras
2 months ago
Awesome!!! Glad i could lend some assistance
Reply
SNB
2 months ago
Got stopped out by the spike i'm in again....thanks for the reassurance
+1 Reply
Akil_Stokes TOP SNB
2 months ago
Sorry to hear that man. Start prepping for the next good trade
Reply
janne0536
2 months ago
u got it all sorted out man :D
+1 Reply
Akil_Stokes TOP janne0536
2 months ago
Thank you
Reply
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