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Profound_Ambition
Dec 20, 2017 6:29 PM

EURJPY DAILY Long

Euro Fx/Japanese YenFXCM

Description

Is consolidation for this pair finally over!? after 12 weeks of price stalling in its uptrend we have been moving sideways, & recently had some strong bullish momentum these past few days. Watch for a daily close above the resistance. After consolidation comes a strong breakout

Comment

If price closes above the 61.8 on the daily which failed many times to break a strong bullish move will occur

Comment

Potential breakout pattern
Comments
intergold
It closed under it. What do you think?
Profound_Ambition
@intergold, it closed above the 61.8 daily fib region so I am bullish
preeasy22
@eazywayout, Will you take a long term buy here? Seems like it should ascend throughout '18 with the recent hawkish EUR news... I believe I will place a small long term buy tomorrow to hold for foreseeable future and take new positions throughout if it continues to soar. Thoughts?
Profound_Ambition
@preeasy22, I agree, price could continue its uptrend & keep pushing higher throughout next year. Lets see how the BOJ press conference goes later today if it is dovish or hawkish
preeasy22
@eazywayout, Agreed as well. Important to use small lot size from the jump as we may see heavy swings prior to decisive liftoff upwards and then re-enter throughout the year at opportune times to increase profit. This long term trade could be a profitable one, just need to manage correctly. I hope you continue to update this trade as I'm interested to see how you approach it along the way. Cheers!
intergold
@eazywayout, I thought your 61.8 was at 134.653. Sorry.
Profound_Ambition
@intergold, no worries! : )
intergold
@eazywayout, my sell basket closed with a nice profit. What do you think now? Up? Down?
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