NFFX
Short

EUR/JPY - SHORT

FX:EURJPY   Euro / Japanese Yen
OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes!

Monthly

  • MA's crossed bearish
    Bearish engulfing candle (January)
    Broke major support at 137.000 & Retested
    Next monthly support at 115.00

Weekly

  • Trendline broken
    Weekly engulfing candle + marabozou
    About to take out previous lower low
    Rejected the 0.50 fib level
    Confirmed the 0.382 fib level
    Confirmed lower high
    Weekly support broken
    New LL expected upon break of 126.929

Daily

  • Double Top
    Double Top extended range break coincides with -61 fib extension + weekly support

FIRST TARGET - 122.000
SECOND TARGET - 115.00


Great in-depth analysis you will go far in the forex market :) I really need to have a list of confluences like yourself before entering.

However I've been in this trade for 2 months now.

Reply
Thanks mate appreciate that! ha i just forget everything if i dont write it down to be honest!
haha nice i think I had exactly the same entry as you ill try and post my previous chart a month or so ago! i took profit too early though which is a weakness of mine im working on!
Reply
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