EURJPY : Backtest for the month of April 2021If the profit was booked when 3% was reached then the result would have changed big time.
EURJPY trade ideas
EURJPY | All Set to RallyEURJPY Forecast: We will take a Long position @ 131.30 and collect profit as per the target by risking 1-3%.
Tips: Keep trailing your SL after 20+ Pips to lock your profit.
Many confluence confirmed: Uptrend.
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Eurjpy updateIf EURJPY break the level of 131.15 demand zone next downside move willbe 130.75 and 129.80
More downside possible Reasons for trade-
1: Risk Reward 1:3 and 1:5
2. Price broke major consolidation level of 130.60 after 8 days and now returning towards that level
3.Price has created lower high and lower low on 4 hour chart which is confirming downtrend for upcoming days
4.Price closed below major daily support of 131.700
5. Prerequisite for trade is bearish candlestick pattern near trigger level
💡Don't miss the great buy opportunity in EURJPY
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (131.10).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURJPY is in an uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 76.
Take Profits:
TP1= @ 131.75
TP2= @ 131.95
TP3= @ 132. 40
SL= Break below S2
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Eurjpy UpdateEurjpy has leave the strong supply zone at 130.66 and 130.44 and also it have classical bearish divergence at the new demand zone. Now we take the short postion at 130.45 with the stop loss of 131 targets 129.80 and 128.50
EURJPY - Waiting for signalLevels to be looking for entry
1. Double-top within structure
2. 3rd Test of the structure boundary
Entry Signals to looks for
1. Engulfing (after price breaks the above mentioned level and reverses)
2. Pin-bar (after price breaks the above mentioned level and reverses)
EURJPY SELL IF BROKE BELOWSell after broke below trendline and rectangular support in 5mins time frame
End of wave 4 !? or wave 5 setupView:
EURJPY may unfold into impulse structure and there by giving an opportunity to trade wave 5 setup ;provided price doesn't breach invalidation point.
