The EURJPY was one of the main pairs on my watch list heading into this week of trading due to the fact that we had just broken a previous level of structure support .
I took a small loss on an aggressive day trade on the 5 Range bar charts during this mornings Live Room session, but this was the first opportunity I had to get in as a swing trader.
It's an aggressive sell once again, but due to the amount of risk & the risk reward potential of the trade it's certainly a trade that I'm interested in.
If stopped out, my eyes will then be on a second chance short around the $119.00 price point which is a level where previous structure support has shifted to resistance in the past.
I sent a video out of the initial analysis this morning & if I have the time later on the the week I'll try to put everything together so that you guys can see it as well.
Good luck in the markets traders & keep an eye out for those WED FOMC Minutes. Although it's a USD based release, the USD & the YEN have been in a fierce battle of save haven pairs so I would certainly expect to see some type of reaction.
Akil Stokes
Forex Trader & Trading Coach
I took a small loss on an aggressive day trade on the 5 Range bar charts during this mornings Live Room session, but this was the first opportunity I had to get in as a swing trader.
It's an aggressive sell once again, but due to the amount of risk & the risk reward potential of the trade it's certainly a trade that I'm interested in.
If stopped out, my eyes will then be on a second chance short around the $119.00 price point which is a level where previous structure support has shifted to resistance in the past.
I sent a video out of the initial analysis this morning & if I have the time later on the the week I'll try to put everything together so that you guys can see it as well.
Good luck in the markets traders & keep an eye out for those WED FOMC Minutes. Although it's a USD based release, the USD & the YEN have been in a fierce battle of save haven pairs so I would certainly expect to see some type of reaction.
Akil Stokes
Forex Trader & Trading Coach
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Keep up the good work buddy, love your posts
I Know that and indicator is not an absolute true....but the Daily RSI use to be very reliable.