EURJPY [ In Depth Analysis ] Retracement is due.
On the Daily chart what do we see?
we have reach the daily supply zone / daily orderblock
On the 4H chart what do we see?
1.We have reached the 4H Supply zone/ 4H order block
2. This 4H OB shifted structure to bearish and created a new low @ floor price 161.7
The 4H OB is now being once again testing.
Back to the daily chart, keep in mind we have turned bearish on the 4H chart.
1. Daily chart should be due for a retracement targeting
- 50% retracement (0.5 fib)
- Bottom of the channel
- Coincidently also the weekly orderblock/weekly demand zone.
With all this confluence im shorting EURJPY
we have reach the daily supply zone / daily orderblock
On the 4H chart what do we see?
1.We have reached the 4H Supply zone/ 4H order block
2. This 4H OB shifted structure to bearish and created a new low @ floor price 161.7
The 4H OB is now being once again testing.
Back to the daily chart, keep in mind we have turned bearish on the 4H chart.
1. Daily chart should be due for a retracement targeting
- 50% retracement (0.5 fib)
- Bottom of the channel
- Coincidently also the weekly orderblock/weekly demand zone.
With all this confluence im shorting EURJPY
Comment:
Took 1% short closed
Trade closed manually
Comment:
1st target done
Trade closed: target reached:
PERFECT
