nakedchartist
Short

EURJPY potential bull trap over 2 weeks high

FX:EURJPY   Euro Fx/Japanese Yen
Spotted a h1 hns chart pattern and with macd divergence. I am interested to see if the pattern will be completed or not , if neckline closes or not. If ti closes , then a flush of 2 weeks high will be done.
What may be against this trade will be the 2 hammers on w1 , but should price do a strong bearish close, It will herald a new wave of bearish move upon smashing the weekly descending triangle neckline.

my TPs as shown, the levels on d1 line chart pivot .

For a better ( but riskier) entry , I may choose to see a test on h1 near the suspected right shoulder and get and entry there, SL for about 40 pips for 120 pips.
If not, then closure below neckline for more confirmation.

I will relate this trade setup with my bearish bias on Nikkei
after bad cpi news come from usa eurusd pair climb to top quickly and i checked out all pairs "eurusd,eurnz,eur,jpy,euraur" was going to up through to.
im carying all position to long term if u have any position dont be an panic and cary to position 2-3 day more.
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Right shoulder could not materialize, price continues with up momentum, cut an early position. Best and safest is still to wait for full hns completion below neckline.
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im in sell position on 137.218 an i will not close before take some profit about 500 -700 pips.
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nakedchartist samed.karsanbas
thank u sir, u are a great position trader. I have much more to learn from you. I only have heart to aim for 50-120 pips.
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entry point and sl
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nakedchartist lovely.guy.589
it's on the chart n explanation.
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