It looks like EURJPY is topping out from a momentum and money flow point of view. There is a chance that it starts its descent down from here.
Looking for a break and retest of the LTF bullish structure to push down to .5 or .618 fib.
Support for this idea:
Let me know your thoughts.
Trade Safe!
HEET
Looking for a break and retest of the LTF bullish structure to push down to .5 or .618 fib.
Support for this idea:
- Supply zone has been very strong since mid-March
- My indicator showing slow stoch topping out and a potential medium stoch rebound which could trigger a downward move
- Money flow is showing signs of exhaustion
- Previous COT data shows a decrease of EUR and an increase in JPY net positions.
Let me know your thoughts.
Trade Safe!
HEET
Trade active:
I took the high-risk entry on the retest of the resistance when my indicator triggered a rebound entry. Very happy I took that entry as it is melted down after.
Trade closed: target reached:
Target just hit. I left 1 lot left in the trade running.
Comment:
I'm completely out after the 2nd bullish candle pushed up. It's a good thing I got out as there was good retail sales news for EUR.
No complaints, today was a good day. I finished the day up 1.7% just on this trade.
No complaints, today was a good day. I finished the day up 1.7% just on this trade.
JPY is starting to show some strength again and EU is melting.