EURJPY - 4hr Timeframe - Update on Short Opportunities
Following our daily timeframe overview (www.tradingview.com/...w-Short-Opportunity/), we are closely observing this pair as, after a first impulse to the downside, it is now correcting itself in what seems to be a regular flat confirming more downside. This would be a great opportunity to add further positions, for those who are in the sell from the previous trend break, or to enter the trade, for those who aren't in it already. If our analysis is correct, we will sell the break of said correction with a stop loss above it and a target at the break of the previous daily low at first, then all the way to the weekly trend line.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
Comment:
We are revising our publication on this pair as, on a more accurate analysis on all Euro pairs, there is still a chance for one more up before resuming the downward impulse. More specifically on EURJPY and on the 4hr timeframe, the previous movements on could have formed an expanding flat for more upside, possibly also breaking the daily trend line to the upside, so we advise trading this pair with extreme caution. We will be trading it both ways, according to what we see coming.
