EURJPY - Do We Have A Reversal Setting Up?
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Price has failed to push higher multiple times
- Price is forming lower lows
- We're retesting a strong area of resistance that's been tested multiple times before
- Downwards trendline touch
- Bearish pennant pattered forming
- Broadening descending channel forming
- 11k long position decrease for the EUR
- 2k short position decrease for the JPY
Bullish Confluences
- EUR is the strongest major currency whereas the JPY is the weakest major currency
- 5k short position decrease for the EUR
- 4k long position decrease the JPY
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. We're short looking for the JPY to become stronger and end this bullish trend that we're in.
Trade closed: stop reached:
Trade Closed
(-1R) Lost
After Trade Comments:
Unfortunately this trade we took was too affected by the EUR strength that came in and also the JPY weakness that we saw. Price went against us straight against us, stopping us out quickly. Sometimes this happens and the fundamentals go against you but other times they go in your favour, it's the risk you have to be willing to take. It won't always play out in your favour but as long as your winners make up for your losses that's all that matters. You could take 9 losses and 1 win but if that 1 win makes up for the 9 losses then you are profitable. At the same time you could have 9 wins and 1 loss and still be negative overall. The key is to find a win rate and RR that suits you. Thankfully that's what we're here to do. We want to show you that you don't need a high win rate to be profitable. You don't need to sit at the charts all day. You dont need to take 5 trades a day. All you need to do is find a strategy that suits you and is profitable. We aren’t claiming that our strategy is the best but what we can tell you is that our strategy is profitable and it's also a mechanical strategy meaning that anyone can learn it and get the same results as us. All you need is dedication and a helping hand from us. Please do feel free to reach out to us with any questions that you have or any help that you need. With that said, onto the next!
Stay Safe - The JPI Team
(-1R) Lost
After Trade Comments:
Unfortunately this trade we took was too affected by the EUR strength that came in and also the JPY weakness that we saw. Price went against us straight against us, stopping us out quickly. Sometimes this happens and the fundamentals go against you but other times they go in your favour, it's the risk you have to be willing to take. It won't always play out in your favour but as long as your winners make up for your losses that's all that matters. You could take 9 losses and 1 win but if that 1 win makes up for the 9 losses then you are profitable. At the same time you could have 9 wins and 1 loss and still be negative overall. The key is to find a win rate and RR that suits you. Thankfully that's what we're here to do. We want to show you that you don't need a high win rate to be profitable. You don't need to sit at the charts all day. You dont need to take 5 trades a day. All you need to do is find a strategy that suits you and is profitable. We aren’t claiming that our strategy is the best but what we can tell you is that our strategy is profitable and it's also a mechanical strategy meaning that anyone can learn it and get the same results as us. All you need is dedication and a helping hand from us. Please do feel free to reach out to us with any questions that you have or any help that you need. With that said, onto the next!
Stay Safe - The JPI Team