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TheRZA
Jan 6, 2019 11:31 PM

EURJPY Retest Entry  Short

Euro Fx/Japanese YenFXCM

Description

After the large bearish momentum initiated from the flash crash on the opening of 2019, the USD gained strength to try and regain its original price. However it has yet to surpass a very key Fibonacci level. We'll wait for stall of price momentum before price reverses on the bearish side.

If price does not stall, we do not enter this trade as the USD could still be recovering and the bulls still control the market.

Trade closed: target reached

Target 1 was reached.
Comments
TheRZA
Let me know if you guys want smaller timeframe analysis! :)
TheRZA
@Juff97, you can message me directly
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