MTayaib
Short

Lovely SHORT setup on EURJPY!

FX:EURJPY   Euro / Japanese Yen
I'm looking at EURJPY on the Daily. Here's what I can see...
-The pair has come back to Daily High's of 126.700-126.800, If we see a similar Daily Reversal pattern form on this area such as a Shooting Star or a Bearish Engulfing I will consider taking shorts.

-I have drawn in an Upwards Trendline so price may pullback to a Key Psychological area 126.000 and continue to the upside in which we can look for price to head to 127.500 (130+ pips). & Then we could wait for a Daily reversal pattern to form at previous Daily Highs of 127.500 and go Short.

-However, If we do see price break through our trendline we can use the upwards trendline as a Counter-Trend line and wait for a break and retest and maybe open up some more short positions to our next target 124.500 (180-200 pips).
Trade closed: target reached: Target 1 reached +80 pips
Comment: broke and retested 126.00 still have positions running, should be up 100+ pips
Comment: +170 pips still running,
Trade closed: target reached: +200 pips
Comment: +150 pips on 2nd position off of CTL
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