My bias on EURJPY is on the down-side, two possible scenarios with two possible entries:
Scenario one: The price breaks and close below 131.398 (must close below the price), then allow the price to retrace and stall at the back of the trend-line (must not touch the trend line ),
then enter sell, and place stop above the resistance line above (aqua colour). Target...
I believe the pair is at my NO TRADE ZONE, at this stage, waiting for price at the territories I highlighted, for the necessary actions.
Trading is a war between Bears and Bulls, I am not permanently on any side, I declare a trade free zone and join the winning side,
ride with them and abandon them, when I make my pips, then wait to continue with them or join the...
My medium term bias on USDCAD is a short position, once can enter trade at the current price, or wait for the price to come back to 1.2824, and set the SL & TP as depicted on the chart.
I am already on the trade and will update you as time goes on.
Lets see how it goes.
