EURJPY Counter Trend Long

FX:EURJPY   Euro Fx/Japanese Yen
43 0 1
1. You can see from each of the highlighted zones, starting in September 2015 (A.) the pair has made lower highs and lower lows (B. and C.)
2. Mid September to mid October there was price compression, where there was a lower high, but higher lows as well until the breakdown on the 22 October forming a new low (D.)
3. Price retraced to previous structure at (E.)
4. Price has now made a new low, but found support at previous structure (F.)
5. There is now a bullish rejection bar at (F.)
6. If price breaks up on the next day candle, consider going long to point (G.) which is previous structure
7. (G.) will be a great point to look for bearish Price Action for a short trade with the trend

If price does not hold here, or break up past rejection bar, then idea is invalid
Trade closed: target reached
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