Hi all traders, Morning. Im waiting for the price to move towards either of the grey box before me to buy and sell this pair. So be patient on this trade. Cheers everyone!
Trend : Daily (Uptrend) Technical : Key level, Buy at support, Confirmation as uptrend (ascending channel) Risk reward : 1.3
EUR/JPY is in a tough spot right now on the daily, we dont see a clear indication for either long or short. It tapped the Weekly liquidity, but that might have not been enough (Daily also still in a bullish trend) EUR/JPY shows signs of weakness though, so we might see a Daily Trend reversal for this week, hence the trade for Traders with bigger risk appetite: Short.
The counter had multiple supports- trendline, bullish flag support and price action support. But it has broken all the levels and bulls are trapped big time. Hence, we expect some long unwinding move in the counter.
Patiently waiting for this to break trendline then we wait for the pullback and boom
126.50 to 128.00 is SELL zone, in principal the overshoot is taken into consideration and is part of the plan 128.50 is strict STOP level I do expect certain kind of lower move anytime by Tuesday's close. when happens just lower the stop to lock some gains. closing some portion is also okay. of course there many more money management strategies that can be...
Can jump in this short earlier but it may bounce off of its strong support level
EURJPY long Analysis. Trying a strategy of trading, been backtesting for some time now.
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a buy limit.
Let's see if this pans out, I have a short near the highs.
EURJPY is moving inside a price channel on the hourly chart for the last couple of weeks. Currently, it has reached the top of the price channel. Ther's a chance that EURJPY may drop back to the bottom of the price channel in the next few days. Look out for bearish price action at the top of the channel and sell EURJPY with TP at the bottom of the channel.
Looking to see some bearish pressure and a break and retest of this possible Hns.
Short Idea for this pair
please let me know what you think of my analysis and if you have any questions or comments let me know
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a SELL limit.
125 and 116 are key monthly levels that i will be looking at setting orders at, notice how these are nice round numbers also! If you want to see the bigger picture you must zoom out, so use the higher timeframes and you will spot stronger and more setups, if the police want to find someone in a crowd they use a helicopter (so they are looking at the bigger...
EUR - BULLISH 1️⃣ PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels. 2️⃣ ADP report showed the US private sector added nearly 170K jobs during last month, missing consensus badly. 3️⃣ The euro enjoyed its best month in a decade...