EURJPY: Building a case for entry

FX:EURJPY   Euro Fx/Japanese Yen
Looking a a structure based long opportunity here as price actions looks to retest previous structure support . We've got a combination of multiple harmonic moves lining up with a Fibonacci cluster and of course structure looking left. As of now I'm waiting to see how price action reacts within this zone before committing to an entry.
I have the identical analasys Akil, you can see my the chart in my post.

Greetings from a Syndicat Member in Belgium
+2 Reply
Akil_Stokes PRO sag.deconinck
That's awesome! I'm watching price action like a hawk
Lets see, structure is strong on the HTF's
+1 Reply
previous to this action ther was a 2618 trade 15m that worked out to TP1. EurJpy lives for 75% up to structure. Love this pair
sag.deconinck PRO sag.deconinck
Tp2 of 2618 trade filled 105 point in the bank
+1 Reply
Hi Akil, will we be looking for the 0.382 of the abcd pattern for first targets, as its around the 139.100 resistance? Or would you let structure determine profits?
On this moment all the pricebars are inside bars so that could mean continuation to the downside on the 15m. Still waiting for confirmation of a direction.
On the daily whe are still in a very Bearisch direction. So maybe whe going to break the the AB=CD pattern. Also on the 1h.
RSI is showing Oversold so keep an Eye on it.
For me personaly: Im waiting for a confirmation in some direction.
Akil_Stokes PRO BronzeTeeth
Structure is going to be more important to me than fib ratio's when deciding where to take profits. So I always default towards structure levels with the exception of advanced patterns
Hey Akil, Where would your Stops And Targets Go if you long this pair?
wow I followed your trade and it's great! Awesome job Akil
I took a partial position off at the structure level right above the 139 even handle and my initial stops were in the 13820's. They're now at breakeven to protect the open position
I was sleeping I have missed it. No problem
Akil_Stokes PRO sag.deconinck
Yup they'll be more
Thank you djshine_85
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out