Tendency: Uptrend ( Bullish )
Structure: Trendline | Breakout
Observation: i. Notice a visual representation of trendline as a line is drawn under pivot lows (indicated with green arrows) showing the prevailing direction of price action.
EURJPY in Daily Time frame is Following symmetrical triangle
we need to wait for breakout then we can buy this Pair.
Note one think it can be broken Downside as well depend on market condition if it breaks downside then follow the rule of the symmetrical triangle.
What is a symmetrical triangle?
The symmetrical triangle is one of three important triangle...
EUR/JPY Long Idea (5/22/19) 1HR Chart
- Looking for price to reach the bullish trendline
- Price should reach the 4HR disturbance (orange level)
- Looking for the first fib extension @ 124.000
- Long term target @ 125.000
As you can see market is forming a flag here on the 60MINS view which is a continuation pattern hence market will breakout to the upside.
Also looking at 4hr view as breakout build forming of a pennant which will go up, so this flag/view will build into that pennant/view so i expect plenty pips on this one.
No given figures so one can chart themselves and use...
Market is forming a bearish pennant on the 2HR chart view and this is a breakout to the downside so watch this space, sell once market breaks out of pattern formation.
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident...
EURJPY as previously analysed retraced to
Fibonacci retracement level of 0.5. i am ultimately
expecting this to go down
once my support line is broken (blue line) i am entering
the sell down.
See previous analysis
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EURJPY broke out the downtrend line earlier this month, price action is making marginal highs, i am expecting a pullback to be setting up for a test of the downtrend line. Look for sell setups.