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JasonGraystone
Mar 29, 2016 5:54 AM

EURJPY - Fibonacci Inversion Trade Set Up Short

FX:EURJPY240
Euro Fx/Japanese YenFXCM

Description

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Predicting a move to 120 on this pair, we have this bearish Fibonacci Inversion set up at marker which is also at a retest of previous structure.

50% retracement, 1414 Extension, 1618 Inversion

Targets at the 618 retracement with stops being a half measured move of the initial target.



We will be going over this trade as well as a few other things on my radar this morning in the Love Room.


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Comments
Koryphaeen
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I, personally, am long on this pair heading for 129, based on wave theory and my wave count+breakout and trend analysis. This doesn't mean though that it is not a good setup you identified with a profit potential, especially (and only!) if it fits your strategy. Good luck if you take this one Jason!
JasonGraystone
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Yeah I don't trade this set up but im testing it.
EdW
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Have fun in your "love room"......
JasonGraystone
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Haha. Damn Keyboard!
okechukwuagu
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WOULD YOU SAY THIS IS A COUNTER TREND TRADE JASON?
Kareem
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Is that a valid bat pattern for you Jason? D leg completing at 127.02
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