Mikoxl.
Short

One more consolidation play?

FX:EURJPY   Euro Fx/Japanese Yen
Trade cancelled
After missing the entry, the pair retraced 38,2%.

Bigger picture
Over the past two weeks this pair has consolidated between 140.72 and 138.00.

These two levels are:
- a weekly structure zone @ 61.8% retracement (140.72)
- a midline of an monthly upward channel. (+/-138.00 and rising)

Trade setup
If the pair won't go beserk with the uncertainty around Greece, we could see another bounce off the weekly structure zone. Also, there is a potential reversal zone between 140.50 and 140.66 to short this pair. This PRZ is defined with the completion of several patterns: the Bat (140.66), the Shark886 (140.66) and the Gartley (measured with Akil Stokes' rules).

Risk to Reward ratio
sell: 140.66
stoploss: 141.39
target 1: 139.63
risk/reward: 1 : 1.43

Keep in mind that uncertainty about Greece can do crazy things!
Mikoxl. PRO
a year ago
Oh hello? Missed this one...
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Mikoxl. PRO
a year ago
DUDE! I would have made a lot of pips with this one. If only...
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IvanLabrie TOP Mikoxl.
a year ago
Take all the trades...haha.
You could have lost a bit as well.
No big deal, keep at it, excellent analysis here.
Reply
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