EURJPY - Short Setup
EURJPY could provide us a good Short Setup at this moment.
On Daily Time frame we are on an ascending channel, close to the resistance.
On this moment we can clearly see a Consolidation area on multiple time frames, so we could expect a retracement on the daily time frame, respectively, trend reversal for lower timeframes.
To go short we should wait for a clear break of structure on lower time frames (1H, 15 min) and for a confirmation if the move is not aggressive enough.
Never forget to place your Stop Loss accordingly.
On Daily Time frame we are on an ascending channel, close to the resistance.
On this moment we can clearly see a Consolidation area on multiple time frames, so we could expect a retracement on the daily time frame, respectively, trend reversal for lower timeframes.
To go short we should wait for a clear break of structure on lower time frames (1H, 15 min) and for a confirmation if the move is not aggressive enough.
Never forget to place your Stop Loss accordingly.
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