harold312013

EURJPY Short position analysis

Short
OANDA:EURJPY   Euro / Japanese Yen
Reached the top of the ascending channel structure, we can now look for SELL setup & possibly hold the position for few weeks, allowing it to dip to the downside. Now waiting for indications like 1H retrace candle or evening stars to get into the trade & manage it promptly.
Trade closed manually: Beyond projection, EURJPY showed impulsive move to the upside to finish descending channel in higher time-frame. I will soon post another idea on the daily chart to address it.
Trade active: Since prices now retraced back to the bottom of the structure, I would recommend keeping SELL positions & waiting it to reach TP1.

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