Looking to take a tight risk here. Good RR and should play through the rest of the week.
The EURO is looking to gain some short term weakness against JPY but this slide should be brief. Probably a week or two at most. Then we will resume our bullish sequence into the third impulse wave of the Cycle degree wave 5. This will eventually lead to all the YEN pairs topping out and beggining another corrective cycle.
For now we look to LONG the C wave into our short zone. I have my SL at the orange line but might move it down some and trade proactively. I am taking profits at the 50 back (purple line) and then setting my SL to entry and letting the other half of the position ride until we get equal legs extension.
Following this trade we will be shorting into the final drop of the 4th wave of the Cycle degree which will complete our complex correction and lead into our next bullish move per the second paragraph in this post.
Not financial advice
The EURO is looking to gain some short term weakness against JPY but this slide should be brief. Probably a week or two at most. Then we will resume our bullish sequence into the third impulse wave of the Cycle degree wave 5. This will eventually lead to all the YEN pairs topping out and beggining another corrective cycle.
For now we look to LONG the C wave into our short zone. I have my SL at the orange line but might move it down some and trade proactively. I am taking profits at the 50 back (purple line) and then setting my SL to entry and letting the other half of the position ride until we get equal legs extension.
Following this trade we will be shorting into the final drop of the 4th wave of the Cycle degree which will complete our complex correction and lead into our next bullish move per the second paragraph in this post.
Not financial advice
Trade active:
Profits taken at the purple line (the 50 back) and SL to entry now. Risk free position and letting the rest run to our target. Great trade everyone
Trade closed manually:
Closing all of the position here except for 10% to let run to the target zone. I have set my SL above where I entered so if we drop I am risk free. Great trade everyone
1.09% unleveraged
174 pips
7.56 RR
1.09% unleveraged
174 pips
7.56 RR