channeltrader

EURJPY - Waiting to short

FX:EURJPY   Euro Fx/Japanese Yen
Looking for either a small bounce to the upside to take a small risky position or waiting for a break of 137/136 level and short on retest. Targeting 128.421.

Keep an eye out on the minor channel

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Nice idea!, here is what I think will happen
snapshot
. Keep up the good work channeltrader!
+1 Reply
channeltrader HamzaLeith
Your target is pretty close to mine. So you see a rally from 126 level? And based on your chart, price is still above the mid line, if i'm not mistaken, so there is an equal chance for a bounce to the upside as well.. somewhere around 140 levels... Quite close!!!
+1 Reply
HamzaLeith channeltrader
Well, if you base your analysis purely on slopes (channel or pitchfork) then the answer is YES. I have a bearish bias due to Elliot wave count: please take a look
snapshot
Reply
channeltrader HamzaLeith
I wouldn't touch EW's with a mile long pitchfork!!! Lol...
Reply
HamzaLeith channeltrader
haha why not?
Reply
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