Tom_Killick
Short

EURJPY: Shorts To Continue Into This Pair At Nice Level! #Forex

FX:EURJPY   Euro Fx/Japanese Yen
273 0 5
Traders,

I would expect shorts to continue off of this level. We have been seeing LH's for a while now, waiting for new LL's to take form, this is being constricted due to a long term wedge pattern that's obviously formed over time.

1: Price is resisting at the moving averages that are converged, we then had a kicker opening today off this level, showing it may well be immediate resistance.
2: We in harmony with the trend. We have had our 38.2 retracement of the small wave leg, and it makes geometrical sense to see shorts now.
3: Doji's at the MA resistance showed indecision, the kicker type open below the previous days range implies a decision has been made here.
4: Price is confined to a small area now, price is trapped.
5: There is a very nice support resistance transition line here, proving accurate for entries over time. Having a lower low at a MA resistance below this line shows the bulls aren't about right now.

Best of luck,
Tom
For more information on joining my private signals group or receiving professional online trading tuition, contact me here, or via email.

Youtube: https://www.youtube.com/channel/UCrKe1mbrc5cAj1BuuQNoyrA?nohtml5=False
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out