Technician
Long

EURJPY: Resuming Breakout?

FX:EURJPY   Euro Fx/Japanese Yen
1487 17 16
Update 2: Stopped out . Profit(pips)= -80x2=-160
Update: Trade is active now.

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A possible long here on a breakout above key resistance levels,

-The price may have completed a bottom for now after taking the main descending resistance,
-The 200-days SMA a
-Horziontal resistance at 139.25
-A potential bullish hammer candle today

I am looking to long the pair around 139.70, targeting 141.00 and 142.30. With a stop loss at 138.90.

Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page www.thefxchannel.com
My best regards,
Technician
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ

Related Ideas

thedrrew PRO
2 years ago
Do you still consider this trade even if no Bullish Hammer candle have formed? Appreciate your feedback.
Reply
Casey_Yeo
2 years ago
Don't you take into consideration the key resistance zone at 140?
snapshot
Reply
Technician TOP Casey_Yeo
2 years ago
Yep I noticed this key resistance over the weekly chart, i dont like that the price failed to close the week above it and retreated back below. But there still a lot of bullish technical developments. A good idea is to wait for a another break above that resistance to look for a long position.
Reply
Casey_Yeo Technician
2 years ago
Thanks for replying. The failure to close above the resistance is a turn off for me here. How do you determine your stop loss placement here? My wild guess is that you want it below the psychological round figure - 139?
Reply
Technician TOP Casey_Yeo
2 years ago
Well, it depends on the different factors, entry level, below support level as i see it and appropriate with a good risk-reward.
+3 Reply
Technician TOP Casey_Yeo
2 years ago
Unfortunately, I noticed that resistance late.
Reply
Casey_Yeo Technician
2 years ago
This is what I'm currently waiting for a long.
EURJPY
Reply
thanks for this post
Reply
Woozaa
2 years ago
EUR/JPY
Reply
manijeh.kazemi.33 Woozaa
2 years ago
thank you
+1 Reply
Trade is active now.
+1 Reply
bogdan.saenko Technician
2 years ago
Are U long for the target U have specified on the chart?
Reply
Technician TOP bogdan.saenko
2 years ago
I am long yes. If i change my targets i will post here.
+2 Reply
bogdan.saenko Technician
2 years ago
Thanks for your answer!
Reply
Sam0101
2 years ago
what about use/jpy, up too?
Reply
Update 2: Stopped out . Profit(pips)= -80x2=-160
+1 Reply
I think the decline continues on 137.900
Reply
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