TradingView
FTnalu
Nov 18, 2017 1:56 AM

EJ Accumulation phase.  Short

EUR/JPYOANDA

Description

As we can see price trued breaking back up by establishing a HH close based from previous LH, but very next day we had a Bearish candle rejecting price from the 133.750 Mid point resistance. And price followed the rejection with a doji, then huge drop on Friday the 17th of November. Even tho we achieved a new HH and break of structure we also got a rejection and drop from there, which leads me to infer that price may want to tank further down. To price level 130.000 Major Quarter point. Until we have a full break and hold of support 131.700 trend is up. Tho id be careful traders and wait for price to give you 99% probability trades. Until next week lets keep our eyes peeled and minds focused for this possible up-coming collapse of EJ. :)
More