TKfx369

EURJPY short, for 150 pips

FX:EURJPY   Euro / Japanese Yen
3 confluences for this trade: We had a series of LL's and LH's being made, and then a BOS and retracement into our golden zone which presented us with our entry. We also had support from our 50, 100, and 200 EMA's, aswell as support from a basic downtrend line. (Trendlines hold little significance on the lower time frames). The last confluence was the tweezer top that had formed on the 4H, on the H1 we had a hanging man candle to indicate a reversal. JPY pairs had finally gained strength in the month of October, so it was time to short the opposing pairs.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.