Shorting at market price - price has pinned the minor resistance and printed a sell signal (railroad track)
Selling at market price 126.485
SL above highs @ 126.905
TP lower down 2 support 125.123
See EURUSD trade idea to confirm correlation of EUR pairs and analysis
As usual don't bet the farm, good risk management won't kill you but the lack thereof could...
Signal for SHORT on the pair occurred on 08/10 @128.026. Unfortunately, I hesitated to place the trade and entered on 08/13 @125.846. I've set two targets (gold lines), which are indicated in the demand areas (blue rectangle) on the chart. My trading system and methodology typically includes at least three price targets, however due to the erratic nature of YEN...
As described in my precedent post, I was expecting to see Euro getting weaker against Japanese Yen. Finally, we are getting there.
We can see a lower high, which gives support to my bearish idea.
Target can be detected at 125.50; horizontal support.
Thank you guys,
I know its ECB day but with the short EUR trade the RR is so fantastic today that it definitely makes sense to trade this one.
Shorting EURJPY here @ 129.12
Stop at 129.52
Let the games begin . I will be sitting with trigger ready and might pull it off early if we get a decent exit during the statement or the presser.
EURJPY - DAILY - Strong Fib confluence meets 800 EMA
Strong rejection on DAILY, lets see a close below FIB PIVOT
Huge Fib Cluster ranging from multiple highs
800 EMA hovering above.
Still room for a retest, no need to rush in.