I have a Bearish Stance on EURJPY...
- Previous Day LOW Broken - indicating lower prices (or it might be a false break...)
- WAIT for Retracement towards Previous Day's Close (Entry #2) Or Today's Open (Entry #1)
Some Quarterly Stats for this pair:
- Using 13 Weeks Data, Wednesday marked the weekly low at 0% (Same for USDJPY)
- Using 26 Weeks Data, Wednesday marked the weekly low at 4%.
Today - Wednesday - marked the weekly low...so I anticipate, that Thursday will RAID/TakeOut Wednesday Low...perhaps we will see a NY reversal tomorrow into the weekly range OR, close lower into friday (23% of the time Using 13 Weeks Data)
- 1:5+ RR (25 Stoploss @ Entry #2) - if ADR is fullfilled
- Targets mainly at Round Number Areas (Black Lines)
This was yestaday's mind...building into this framework...
www.tradingview.com/chart/?mind=2KqYN...
Use at own risk...Am a rookie!
- Previous Day LOW Broken - indicating lower prices (or it might be a false break...)
- WAIT for Retracement towards Previous Day's Close (Entry #2) Or Today's Open (Entry #1)
Some Quarterly Stats for this pair:
- Using 13 Weeks Data, Wednesday marked the weekly low at 0% (Same for USDJPY)
- Using 26 Weeks Data, Wednesday marked the weekly low at 4%.
Today - Wednesday - marked the weekly low...so I anticipate, that Thursday will RAID/TakeOut Wednesday Low...perhaps we will see a NY reversal tomorrow into the weekly range OR, close lower into friday (23% of the time Using 13 Weeks Data)
- 1:5+ RR (25 Stoploss @ Entry #2) - if ADR is fullfilled
- Targets mainly at Round Number Areas (Black Lines)
This was yestaday's mind...building into this framework...
www.tradingview.com/chart/?mind=2KqYN...
Use at own risk...Am a rookie!