EURJPY - Long setup (short term)
EURJPY - has broken out of market structure with push toward a key level of resistance. (129.45) I'm waiting for the price to retrace towards the golden zone .5 or .618 (128.919 - 128.793.) I need price to respect this level before a buy.
4hr shows promise with price respecting 128.837 acting as a key level of support and price is holding above 200MA.
Ill be looking at candle formations on higher TFs to identify if the trade is valid. Since the trend is bearish currently.
4hr shows promise with price respecting 128.837 acting as a key level of support and price is holding above 200MA.
Ill be looking at candle formations on higher TFs to identify if the trade is valid. Since the trend is bearish currently.
Note
Risk 1.5% TP1 - hits - SL B/E
TP1 / @ 0 / 30%
TP2 / @ .25 / 40%
TP3 / @ -.618 / 30%
Trade active
I entered this position off the hold of the 200MA just above the golden zone, Its not exactly inside the zone but there was a touch of .618 already and the second test just above .5 was enough for me. RR is 2.99
SL - 39.5pips
Entry - 128.960 (not the best sniper entry but good enough)
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.