EURJPY "potentially" forming false trnedline breakout....
Alright so, you'll see I have two red zones drawn, I am bullish on this pair but I'm not sold on the idea it is ready to pump 150+ pips upwards yet.
This is a riskier sell potential so it's best to wait for the confirmations.
Right now a position is being built at 130.20.
The question is...is this position going to be truly bullish or is it a manipulation move to entice people long? That I don't know yet.
I look for trap/manipulation setups so i'm analyzing based on what I'd like to see.
I'd like to see price break the tiny bearish trendline, and spike above atleast one of the swing points within the trendline, best case scenario is we break just above march's high.
If price breaks above one of those, and we get a BULLISH engulfing, that gets reversed on, I will start looking for shorts to 129.20
That will confirm enough for me that they pulled liquidity above the march high, and we should see a sell off.
Just watching for now.
Let's Elevate,
-Gio
This is a riskier sell potential so it's best to wait for the confirmations.
Right now a position is being built at 130.20.
The question is...is this position going to be truly bullish or is it a manipulation move to entice people long? That I don't know yet.
I look for trap/manipulation setups so i'm analyzing based on what I'd like to see.
I'd like to see price break the tiny bearish trendline, and spike above atleast one of the swing points within the trendline, best case scenario is we break just above march's high.
If price breaks above one of those, and we get a BULLISH engulfing, that gets reversed on, I will start looking for shorts to 129.20
That will confirm enough for me that they pulled liquidity above the march high, and we should see a sell off.
Just watching for now.
Let's Elevate,
-Gio
