Welcome to our Trade Setups - June 07th ( EURJPY ) !
SELL EURJPY
ENTRY LEVEL @ 133.182
SL @ 134.348
TP @ 129.675
Max Risk: 1% - 3%!
Risk/Reward Ratio: 3.01
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Have a great week everyone!
We were unable to open a Bearish position in my last publication on this pair as the price continued to find a higher level ( see link below for reference purposes) but the current structure transposing into a Head & Shoulder - a strong reversal pattern suggests that the bears might lead to further decrease in price in the meantime.
Tendency: Downtrend...
Hi Traders,
The last time I wrote about EURJPY, it was about to break out of the ending diagonal pattern.
A few days later, the price has broken the pattern and trade lower sharply in what can be seen as the first wave of the impulse.
According to EW theory, an impulse is followed by a correction before the price resumes in the direction of the impulse.
So the...
As I said last weeks...If we make a parallel between the chart on a week and one month we can see as EJ Pattern Pattern formed since 2018!
In the 1 week chart we observed that this is a very important area for EJ's near future ... if you see in the left circle, any closure even for 1 day over the green line means an imminent climb in the 137,300 area
However ......
Hey traders, here is the analysis for the EURJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
EUR/JPY can correct lower in the next couple of days after this recent rally.
Price action is slightly tilted to the bearish side now with two consecutive 4 hour candles
turning bearish.
A sell entry@ 132.60-132.85 with SL above 133.20 and TP at 131.70 could be a potential
short set-up.
After hitting the bottom of the canal, it will reach a level of support and we expect the Saudi trend to resume.
But we have to wait and see how he reacts when he hits the bottom of the canal. If there are 2 or 4 daily candlesticks on the floor of the channel, we propagate again to the next level as shown in the chart.
Transaction entry range : 132.000 -...
EURJPY has just completed an ending diagonal pattern in wave (v) of 3.
The price has the potential to break out of the diagonal trend line and head lower in three waves to complete wave 4.
The breach of the invalidation level will invalidate the ending diagonal idea.
Goodluck!
Price has currently been ranging between higher resistance and lower support.
We have been able to catch a selling opportunity down to .600 levels and closed.
Currently waiting to see if we can break this area and head lower or return to the resistance area and break before heading higher.
Only time will tell. Whats your thoughts?
Welcome to our Trade Setups - May 30th ( EURJPY ) !
SELL EURJPY
ENTRY LEVEL @ 133.881
SL @ 134.062
TP @ 133.338
Max Risk: 1% - 3%!
Risk/Reward Ratio: 3
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
Here we can see a a strong bullish trendline, there is a possibilitie that EURJPY is completing an Elliot Wave (with ABC pattern) and a Left Shoulder-Head-Right Soulder in a future, you can see a support in 132.455 level.
