EURJPY Patterns are aligned, momentum is there
Pros
-Some bullish patterns are showing on the charts. (Falling wedge pattern showing a bullish continuous pattern and reversed head and shoulder pattern showing at the area of support which is the 61.8 fibonacci retracement area)
-Price has touched an area support which is the 61.8 fibonacci area
-There is a divergence occured between the price and the stochastic oscillator
Cons
-Entry trigger which is the candlestick pattern is not clear
Action
- Going long, placing stop loss below the 61.8 area and target around 1:1 risk reward ratio
-Some bullish patterns are showing on the charts. (Falling wedge pattern showing a bullish continuous pattern and reversed head and shoulder pattern showing at the area of support which is the 61.8 fibonacci retracement area)
-Price has touched an area support which is the 61.8 fibonacci area
-There is a divergence occured between the price and the stochastic oscillator
Cons
-Entry trigger which is the candlestick pattern is not clear
Action
- Going long, placing stop loss below the 61.8 area and target around 1:1 risk reward ratio
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.