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JLJ002500
Nov 30, 2017 6:19 PM

EURJPY - S.T. bullish move could create a nice short entry Short

Euro Fx/Japanese YenFXCM

Description

EURJPY has some gusto as it strongly moves up to the top of it's consolidation range. It's currently overbought on short time frame charts. As long as resistance holds, a short entry opportunity could present itself shortly. I'm watching for a strong price rejection to go short. At current price, any bearish move could signal a short entry, however the yellow box is the ideal area for the bears to take over.


1D:


Trade closed: target reached

Target reached. Nice profit.

Short @ 134.072
TP 133.377

Comments
JOE_BIDEN_
nice setup.
JLJ002500
@japa, Thanks. We'll see what happens. I'm in the trade. Short @ 134.072
Mairita
@JLJ002500, are you holding until 131.00?
JLJ002500
@Mairita, I played the short pull back. Ideally, I wanted to take advantage of a quick move and not hold it over the weekend. Since EURJPY is still trending up, I would rather take advantage of a smaller down move (with larger lot sizes) than hold anticipating a full blow correction. That allows me to take my profits and do a fresh evaluation next week with no skin in the game.
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