IsaacYeo
Long

EURJPY 4H long opportunity using the 2618 strategy

FX:EURJPY   Euro Fx/Japanese Yen
39 1 5
Technical analysis:

2618 strategy
- Double bottom formed
-.618 retracement
Note:
RSI formed high lows until recently which broke support, might be a sign of a bear market coming in
MACD crossing for a bearish market too
Evidently the indicators show bearish signals, but I'm trying out the 2618 strategy to see how it fares


Only enter at .618 retracement in order to get a better confirmation of a rebound.
Take profit 1 at previous structure high
Take profit 2 at previous-previous structure high

*For self-reference/educational purpose. NOT investment/trading advice
asifrazzaq
2 months ago
You have a clear descending triangle and all indicators including stochastics on 60min 240min plus daily l showing a bear market. We are about to have an impulsive move lower after the end of these ABC corrections. The move up to 115.05 was the C wave and very least you get ABC downwards or an impupsive move which will come on a break of 112.50 support.
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