EURJPY: Counter Trend & Trend Continuation Opportunities of 1HR

FX:EURJPY   Euro / Japanese Yen
After being stuck at the "D" completion point of a daily Bat pattern completion we've finally seen a break to the upside on this pair. We've not run into higher time frame ( HTF             ) structure and I wouldn't be surprised if we saw some relief in price action.

This trade setups offers something for both counter trend and trend continuation traders. For the counter trend trader, "look left structure leaves clues" We also have bearish divergence between price action and the RSI . For the trend continuation trader we currently have Fibonacci ratio confluence lining up in our potential reversal zone (or as my Live Trading Room members like to call it our "A-Kill Zone")

It's THURSDAY so that means that my WEEKLY FOREX TRADING video will be out today. If you're not a subscriber make sure you head over to my youtube channel and do so. I don't have a fancy title yet but I'll be talking about a report that was conducted a few years ago giving statistical proof on WHY TRADERS FAIL.

Good luck out there today and do me a favor. GIVE THIS POST A LIKE, It takes less than a second ;-)

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier             Online Trading Education Company
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Hi there : SO HAPPY TO USE STOPLOSSES ! ALWAYS USE THEM ! THE KEEP YOU ALIVE ! DON'T TUNE THEM TOO MUCH ! FOR SURE NEVER DURING A TRADE ! HEREBY AN EMOTION PICTURE FOR THIS TRADE. FIRST FRUSTRATION BUT THE BIG RELIEF AS I TRADED THE PLAN A N D D I D N O T A L T E R I T as I did too many times before.... Yes maybe I lost a small amount but gained a huge amount of confidence. The price for that is unaffordable ;) ; ) ; ) especially one your account got broke before ;) At the end of this trade I am still alive trading and move on to the next trade ....
+1 Reply
Stops are very important.
vduquenne Akil_Stokes
like ;)

Equal vduquenne
I was also stopped after break res. And overhappy now.
Hi Guys, made also my little plan... small educated guess for this pair... when one's look left, indeed you see a harmonic bearish pattern. Also the last support became Resistance (in 1h timeframe) . A down move is likely to occur... with following T1 & T2 as appetizer ;) Let's wait & see... ;)
vduquenne vduquenne
Support became Resistance on the daily timeframe ! sorry being incorrect in above text :(
I was trying to buy the last pullback but the market didn't quite pull back far enough for me!
+1 Reply
Akil_Stokes PateSkpate
Yeah we just missed it this morning Kenny. We had the right analysis though which is a win in itself
Hey Akil, What do you think about this set up
+1 Reply
Akil_Stokes Tecnologia_Financiera
I don't really have an opinion on it
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