Sell EURJPY ( Low Trend ) with Daily,Weekly and Monthly ( Broke 55 , 100 and 200 MA's )
Pitchfork Median Line Parallel rebound would make this a very good short setup.
We should buy now or buy at the backsite of the trendline toward the outer trendline/ Fibonacci -0.618 extension.
EURJPY broke the support that's been in place for more than a month so it is highly likely to start a bearish trend. There is a important structural level at 126.72 which coincides with 0.5 Fib so I assume that EURJPY will jump up to that level and go down again. Now it is in a relief rally up to 0.5 Fib. I would suggest a short position at that level. Good luck!
Green Trend Line is not significant but that will show us when bears could come to market. 124.670 is good point to putting a short order after breakout of that level short positions will increase. 127.300 is strong resistance for now. If this area broken then short orders will be canceled; Below 122.00 - 122.100 will act as support but after previous breakout...
This is just a outlook for the EURJPY over the next couple of months. I'm more of a swing/day trader and focus mainly on the 5/15/60min charts. However, I do zoom out to the Daily everyday & the Weekly & Monthly once a week. It's good to see where the underlying trend is so you know which side you want to be more aggressive on at KEY levels. Right now, BIGGER...
So we can see that we have a possible cypher near completion. Had our X to A leg and B to C which has brough thsi pair back to previous resistance levels which is a good sign and we are in the right area of the RSI, not quite over sold but along with structure I feel we will see a decline down along with the way this pair has been moving over the last month.
Had some fun on this chart... Check it out! Like or comment.
Looking SHORT Continuation up to 124.376 zone.
The weekly chart clearly shows a set of tweezer bottom, what we must thing about is..... is this a true or false bullish formation!!! IDK so i busted out the good old elliot wave. the wave formation appears to Me that EURJPY is finished up on wave 4 and we are finishing up on subwave 2 of wave 5.... look at chart! I am chose to be short 1st and long 2nd and then...
- Price closed just below the Monthly Res: 127.00 & 50% Fib - Spinning Top PA setup @ Monthly Res & 50% Fib. - Current candle very near to descending inner trendline. Potential Flip Zone. Waiting for signal to short
Gartley pattern +abcd harmonic move eurjpy
If anyone missed the opportunity to short the the Bearish cypher on EURJPY then there could be another opportunity if the current wave test 127.061 and creates a double top. Wait for confirmation of RSI and bearish candle before you short. TP - 123.187 SL - 128.054 P.S - Do your own analysis and do not blindly follow trade ideas/suggestions that I post....
take short ,wait after the candle closed below the blue line and make higher price create U turn take short (like that draw) reason: fibo retraction 1618.. ABCD creating higher low, lower low upper wick under resistance area TP above support area @124.916 SL Upper U turn
SELL EURJPY AT 125.98 STOP AT 126.50 LIMIT AT 123.95 , RATIO 1:4
Hey Traders, as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension...
FX:EURJPY GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trades; (third wave by Calmstreet) ;) open.spotify.com
EURJPY is coiling up for big move here soon. It has been in a Descending Triangle for the past week or so. It's now coiled up even tighter in a small Balance Area (Red Box). I'm expecting a downside move. Targets are can be the support levels below or the height of the triangle (Purple Line)