Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
π EURJPY has been overall bearish, trading within the falling flat wedge pattern in red.
Currently, EURJPY is approaching the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting a demand zone marked in green.
πΉ Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green demand zone.
π As per my trading style:
As #EURJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
π EURJPY has been overall bearish, trading within the falling flat wedge pattern in red.
Currently, EURJPY is approaching the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting a demand zone marked in green.
πΉ Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green demand zone.
π As per my trading style:
As #EURJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade closed: target reached