Hi Traders,
Here is a full breakdown for EURJPY short idea! Firstly, there was a false breakout above the daily resistance. That strong bullish candle was followed by a bearish candle of approximately the same length; this is known as railway track. It signifies the sudden change in market sentiment. Additional confluences are for this short opportunity are: bearish divergence of the weekly and daily timeframe and price oversold on the 4HR timeframe. Only enter if the daily candle close below the support and there is a slight pullback.
I would love to hear from you in the comments! Remember perform your own trade analysis and use proper risk management.
Here is a full breakdown for EURJPY short idea! Firstly, there was a false breakout above the daily resistance. That strong bullish candle was followed by a bearish candle of approximately the same length; this is known as railway track. It signifies the sudden change in market sentiment. Additional confluences are for this short opportunity are: bearish divergence of the weekly and daily timeframe and price oversold on the 4HR timeframe. Only enter if the daily candle close below the support and there is a slight pullback.
I would love to hear from you in the comments! Remember perform your own trade analysis and use proper risk management.
Comment:
Closed below daily support!