EUR/JPY: 2 Scenarios, check it out!

Hi guys,

New idea regarding EUR/JPY.

2 SCENARIOS according to what is going to happen.

We do not enter with buy/sell-stop orders, this will be done at market price.

It could happen that the setup forms during the Asian session.

Trade with care.

Please like/comment my ideas if you appreciate my work!

Best,

Jesse

Comment:

1 Mother candle with so many inside bars = the market is consolidating.

It will find a direction in the next couple of hours.

Comment:

H1 price is breaking the range. We wait for a pullback and re-break of the range

Comment:

Price must go back inside the range or at least touch the top of it and rebound

Comment:

In case there is no Pullback, it doesn't matter the trade is cancelled and we find a new setup.

Comment:

The pair is pulling back

Comment:

Currently trading at 38.2% retracement from the top

Trade active:

Buying at these levels

Comment:

Targeting: 129.130

Off until tomorrow.
Cheers

Comment:

Morning guys,

Still in the trade, seems that bulls are finally waking up we have a strong breakout on m5.

Needs to hold otherwise it will reverse and go down.

Let’s see

Comment:

2nd attempt to break the range to the upside

Comment:

As you can see, price respected 127.20% fib extension and closed within the range.

This makes me think that bulls can push that higher, to my target at least.

Wait and see....

Comment:

Getting smashed.

Must stay within the range or I will cut the trade and short the pair

Comment:

Patience is key !

I think it's gonna make it now, bulls seem to have taken control again...

Comment:

Comment:

Made a new high at 128.950 but pulled back.

Price is still above Fibo and within the range = keeping my trade.

Let’s see where it goes, for the moment it seems not to be clear at all

Comment:

Since it broke previously the range with a nice bullish candle and made new highs I am still favoring the upside.

But you know the market decides it all!

Comment:

Still holding my bullish view

Comment:

The close of the candle on h1 is crucial. Must be above 128.550

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If price doesn’t close in 30 Minutes in the range I will close my trade with a loss and initiate a short

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Must be above 560 at least

Comment:

Taking the loss! Flipping to the short side.

Comment:

Targeting 161.8% level @ 128.00

We have a H&S pattern and the neckline has been heavily broken on H1.

Comment:

The short should enable us to gain 35 pips and thus reducr the loss of the previous trade.

Trade closed: target reached:

Ok guys the short compensated nearly entirely the loss on the long.