EURJPY broke major support! Rallied down further, SHORT!
Introduction to my analysis:
1) Price Action is KING- I'm a sole believer in price action, you will see me incorporating price action theory into my analysis.
2) Simplicity is key - I love to keep my charts neat and tidy! The more indicators you have on your chart, the more complicated your chart is. Thus, affecting your bias of that market. Let me introduce you to my 3 great trading friends... THE 20, 50 & 100 MA!!!
3) The mind! - My analysis may not always be right, nobody is, it's just my opinion and point of view. There's no right or wrong in any market analysis, the only thing is belief. Believe in me and my analysis, let the result be the light to the dark cloud hovering your thoughts about trading.
4) Please feel free to comment and feedback to me about my analysis & on your views about the market. Through sharing, we grow together as a trader!
- Price has broken through 7-month support @ 124.947 ever since May 2018. Price breakout with a strong engulfing bearish candlestick.
- 200 MA filter shows that Market is bearish and my bias will be looking for a short position.
- Price has rallied further down and tried to take the next support @ 122.000 and reached for the major support @ 118.439.
- However, price did not manage to break through the major support @ 118.439 and is rejected to the previous support @ 122.000.
- Take profit as shown, hopefully, the price will rally down again.
- Looking to scale in my second short entry for this strong sell market.
What do you think?
Enjoy trading guys!
Regards,
Kayden
"Simplicity is the ultimate sophistication" - Leonardo da Vinci
1) Price Action is KING- I'm a sole believer in price action, you will see me incorporating price action theory into my analysis.
2) Simplicity is key - I love to keep my charts neat and tidy! The more indicators you have on your chart, the more complicated your chart is. Thus, affecting your bias of that market. Let me introduce you to my 3 great trading friends... THE 20, 50 & 100 MA!!!
3) The mind! - My analysis may not always be right, nobody is, it's just my opinion and point of view. There's no right or wrong in any market analysis, the only thing is belief. Believe in me and my analysis, let the result be the light to the dark cloud hovering your thoughts about trading.
4) Please feel free to comment and feedback to me about my analysis & on your views about the market. Through sharing, we grow together as a trader!
- Price has broken through 7-month support @ 124.947 ever since May 2018. Price breakout with a strong engulfing bearish candlestick.
- 200 MA filter shows that Market is bearish and my bias will be looking for a short position.
- Price has rallied further down and tried to take the next support @ 122.000 and reached for the major support @ 118.439.
- However, price did not manage to break through the major support @ 118.439 and is rejected to the previous support @ 122.000.
- Take profit as shown, hopefully, the price will rally down again.
- Looking to scale in my second short entry for this strong sell market.
What do you think?
Enjoy trading guys!
Regards,
Kayden
"Simplicity is the ultimate sophistication" - Leonardo da Vinci