Hey guys, this is the 1hr chart on EURJPY. As usual my analysis starts from higher timeframe, where you may see RSI is in overbought condition, and price action is now testing a key level of structure looking left. With that being the case, i want to seek for short opportunities on lower timeframes such as 4hr and 1hr.
On the hourly you can see a nice double top with RSI divergence.
Short with stops above highs, target1 at the retest of the lows, target2 to be determined (huge downside potential).
If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
On the hourly you can see a nice double top with RSI divergence.
Short with stops above highs, target1 at the retest of the lows, target2 to be determined (huge downside potential).
If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: stop reached