Is EURJPY exhausting at strong resistance level? As the price is been on high bull run but now it seems like price is lacking bullish momentum after reaching at resistance level and bearish divergence suggesting the sell pressure is about to start. If the bears took control , the 1st target could be 159 followed by 155. What you guys think of it
That didnt work out unfortunately... I had exactly same bearish bat scenario but didnt consider the entry because double bottom on daily. ... I think the selling will get intense if price continues up and reaches the bottom of the 24/11/23 candle which is daily order block.
If you start point x at 16/11/23 A at 7/12/23 B at 11/12/23 C at 14/12/23 and extend D 88.6 you end up with very good fib ratio bat pattern again this time with 88.6 entry right in the order block.
Also mate if you connect point x 16/11/23 high , A 7/12/23 low, B 19/1/24high and C 1/2/24 low and extend D 1.27 you end up with nice fib coordinate butterfly which entry D aligns perfectly with daily untested order block of 6/8/ 2008
Sorry if too much info but thought you may be interested.
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Great overview of the market, only concern is your take profit target.