Roker1
Long

Double Bottom on EURJPY

FX:EURJPY   Euro / Japanese Yen
Hi guys,
here we have a double bottom at a previous structure level on the 4hr (in this case our higher timeframe). The last candle signals also buying pressure, together with RSI divergence. That's enough for me to consider taking this trade.
Stops below the low, first target at the retest of the highs, second target at 618 retracement of the previous move.

If you want to share your opinion or just ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: stop reached
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
Hi, how about dropping down to the 1h and waiting for price to confirm the reversal with a close over 20MA?
+1 Reply
Roker1 solustrade
Hi @solustrade, thanks for the suggestion but i've never tested 20MA for trading decisions. Instead, i've tested double tops/bottoms in confluence with higher timeframe structure. That's enough for me. However i think your idea could be effective. Good trading!
Reply
solustrade solustrade
Oops,
Reply
Roker1 solustrade
@solustrade, every losing trade brings me closer to the next winning trade, i'm not worried!
Reply
hari_pantha solustrade
SL Hit but Waiting another DB on Daily ..
+1 Reply
Roker1 hari_pantha
@hari_pantha, we'll see, now it's testing a daily structure level, if we can get another double bottom it's a long.
Reply
is this eurjpy h4 chart...?
+1 Reply
Roker1 karim218
@karim218, nope, it is the hourly chart!
Reply
Roker1 karim218
@karim218, now that i re-read my description i see how you could have misunderstood the chart. The blue line represents an higher timeframe structure level (4hr chart) so i went down on the lower timeframe (1hr) and i found out this double bottom. Hope it makes sense now.
Reply
karim218 Roker1
@Roker1, ha ha ha ha thanks buddy for understand my situation....
Reply
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