FX:EURJPY   Euro / Japanese Yen
51 4 4
price has hit a strong downtrend resistance line...and fib resistance

I will enter trade on an attempted pullback to the trendiine

SL 116.4
TP 1 112.00
TP 2 100.5 (longer term trade) completes a bat pattern ...
Comment: See chart below.....for my latest thoughts on this......
Hi,
ok thank you:-)
I will try the EUR/NZD and EUR/GPD!
You are doing a great job.:-) What do you think which one is safer?:-) Anyway i will try both. i prefer the EUR/NZD one
Have a nice weekend
Greetz Meta
Reply
Trendhopper PRO Metastock79
Thank you

I hope you are learning , Im always learning!!!!

Yes go with those trades.....EUR/NZD is the safest....EURGBP should reverse too as ...most other GBP pairings reversed on Friday, I shorted GBP/CHF annd GBP/AUD, they are both in profit now so EUR/GBP will follow suit, its just timing the reversal which is key....look for a higher low for confirmation.... the best GBP trades will be after the shoulders are formed as GBP will have a load of upside to it....and should start testing its pre-brexit levels...of course the market can change and we have to monitor everyday

Oil is excellent to get into as I see it going to at least 46.50 and the .618 fib held on friday....so if you haven't got a long trade...look for a pullback...and go long...or go long when it breaks the 44.60 resistance and pullsback to test the support....

Reply
Hi,
your entry will be 116.2??
Best regards
Reply
Trendhopper PRO Metastock79
HI Metastock,

Ive just looked at it again very carefully...

The longer term trendline is a bit further up.....Ive also identified an AB=CD pattern and wave 1 and 3.....so I think it will follow this chart...so I won't be taking this trade now...

The EUR NZD trade i posted is a safer trade

snapshot
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