EURJPY 4hourly chart forming a triangle, will it break or bouce? By using 4hourly TF, I will try a LONG position for breakout test with reasonable risk reward.
Reason : - With the current PA in play, 128.50 will be a support area. - Daily candlestick still resting above my EMA21, leaving tail below. - Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 129.00 area ; TP : 132.00 ; SL 128.00 area. Risk Reward 1 : 2.4 Always remember to trade with stop-loss, market is crazy & cunning*
Trade active
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+110pips on hand now!
Move SL to BE, secure a risk free trade.
Trade closed: stop reached
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Trade hit SL at BE.
Trade active
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For those who re-entered, you should now acquired +120pips.
Move SL to BE, secure a risk free trade.
Comment
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130.50 obvious resistance there, retested few times.