EURJPY Long Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Higher timeframes point bearish while the 4hour is now newly bullish as we have confirmed the transition above 130.000
The only thing we’re waiting for now is bullish conviction for us to enter long. Ideally that needs to happen sooner than later because if price action begins to consolidate it becomes more likely for a reversal.
Trade scenario 2: For us to consider EJ bearish again we would need to see a break back below 130.000 with a lower high below.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Higher timeframes point bearish while the 4hour is now newly bullish as we have confirmed the transition above 130.000
The only thing we’re waiting for now is bullish conviction for us to enter long. Ideally that needs to happen sooner than later because if price action begins to consolidate it becomes more likely for a reversal.
Trade scenario 2: For us to consider EJ bearish again we would need to see a break back below 130.000 with a lower high below.