EURJPY - Plenty of Upside Ahead - Target 127.600 Insight
Chart: 4HR Time Frame
Market: Bullish Market
Bullish Indicators
1. Low Test Candle (Daily Chart)
2. Low Test Candle (4 Hour Chart)
3. Daily & 4 Hour low test candle reject 125.500 area (key support zone) evident by blue circles
4. Low test candles (blue rectangle) low below 50 EMA, open & close above 50 EMA
5. Price forming Higher lows
6. Trend line resistance on 4 hour chart now turned support.
Risk Management
Risk / Reward: 1:2.94
Stops: 125.400 (below low test candle low & below daily support level of 125.500)
Target: 127.600 (Key Daily & Weekly Resistance)
Agree/Disagree? Comment Below!
Market: Bullish Market
Bullish Indicators
1. Low Test Candle (Daily Chart)
2. Low Test Candle (4 Hour Chart)
3. Daily & 4 Hour low test candle reject 125.500 area (key support zone) evident by blue circles
4. Low test candles (blue rectangle) low below 50 EMA, open & close above 50 EMA
5. Price forming Higher lows
6. Trend line resistance on 4 hour chart now turned support.
Risk Management
Risk / Reward: 1:2.94
Stops: 125.400 (below low test candle low & below daily support level of 125.500)
Target: 127.600 (Key Daily & Weekly Resistance)
Agree/Disagree? Comment Below!
Note
Target Reached.
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.