Hello Traders,
The EURJPY pair tapped into strong monthly supply of 2015 and has shown sign of retracement of the bullish move. The daily structure has shifted from bullish to bearish which then confirms that this retracement (short selling or profit taking) is going to happen.
As you will notice, my limit order for this pair has not been triggered but what I will not do is adjust it as I will be chasing price and that is not part of my trading plan. Instead, I will look for other pairs to trade. Who knows, price might just spike and trigger me in.
Anyways, what do you think?
Cheers!
The EURJPY pair tapped into strong monthly supply of 2015 and has shown sign of retracement of the bullish move. The daily structure has shifted from bullish to bearish which then confirms that this retracement (short selling or profit taking) is going to happen.
As you will notice, my limit order for this pair has not been triggered but what I will not do is adjust it as I will be chasing price and that is not part of my trading plan. Instead, I will look for other pairs to trade. Who knows, price might just spike and trigger me in.
Anyways, what do you think?
Cheers!