Setup: It was noted that EURJPY could be dropping to 124.867 Our setup is complemented by the following: 1. Multiple timeframe analysis 2. Divergence
Approach: Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits. Trade 1: Entry: 128.364 SL: 129.513 TP: 126.784
Trade 2: Entry: 128.364 SL: 129.513 TP: 124.867
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.