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Bullandbeartrading
Jun 28, 2019 12:32 PM

EUR/JPY Trade Idea Short

FX:EURJPY240
Euro Fx/Japanese YenFXCM

Description

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Hello and welcome to my Trade Idea of the currency pair EUR/JPY.

Lets start with the Top Down Analysis.

Monthly: We see a big bearish candle and overall a bearish momentum. The price is in the MONTHLY RESISTANCE area which makes a retrace very likely.

Weekly: Overall the trend is bearish. The last 2 weeks are bullish because the trend must rectrace after the huge bearish move over the last weeks.

Daily: The trend is falling and rising but general bearish.

H4: We see a bearish engulfing candlestick formation at the trendline, which most likely causes a bearish move.


Trade Set up:

Entry: 122.565
Stop Loss: 123.010
Take Profit: 121.224

Wish you all a good day.

Trade active

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Trade closed: stop reached

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A huge gap has unfortunately stopped us out.
Trend AnalysisChart PatternsTechnical IndicatorsshortEURJPYForex
Comments
UnknownUnicorn3691157
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ApexBull
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a bit tight of a stop but I held on worked out well ;) thanks for the setup
Bullandbeartrading
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@ImperiumFX, the GAP was too huge. Next GAP will be on my side.
TriForex
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Nice set up, totally agree with this
Bullandbeartrading
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@TriForex, Thanks for your feedback buddy.
BEAUTY_FX
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You did a nice job, market gapped on JPY pairs due to trump and XI JINPING reaching agreement at the G20. Trump agreed to allow US companies to continue to sell to the chinese tech Giant HUAWEI.
Bullandbeartrading
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@BEAUTY_FX, thanks for sharing these informations.
Lukikum
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Love the detailed description. It is very obvious that you put very much work into your analysis, keep up the grind. I want to see more post like this !!!
Bullandbeartrading
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@Lukikum, I always put in a lot of work. I will post more in the future. What do you think about EUR/JPY?
DACapitalTrading
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Great setup mate :) keep it up
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