EURJPY 1H can look for signal to open long position
Simply trade by ratio confluence and price action. Undoubtedly, following reasons will give more evidence.
PRZ this area is “pivotal” support level
1. Big Bat pattern 0.886XA@0.698
2. Price may go up to 1.27-1.414 area for a Cypher pattern
completion, starting point of CD leg might range from 0.698-0.70
3. 78.6% retracement of daily chart is also near 0.70
4. RSI oversold obviously
5. MACD shows divergence
6. Previous Stucture
7. Support of the blue uptrend line
Therefore, with these reasons, I'll...
1. AB=CD complete @123.80
2. Gartley pattern 0.786XA@123.30
4. Previous Stucture
5. 125 will be another strong resistence of long term
I'll open my short position depends on the price action in this pivotal PRZ range from 123.3-124 even125.
short at 2.1544, reasons as follow:
2-previous stucture,the left shoulder
short at 2.168-2.170, reasons as follow:
1-CD leg of the potential Cypher Pattern
2-top of resistence of the red channel
RSI and MACD divergence
10.28 GBPNZD 1H
1.Wait for the next bearish bat pattern
2.And it is also a test to the green trend line
The bullish gartely has done perfectly last night! Wait for this bat and just shoot it! Good luck!