xWolfxPT

EURJPY- Are we going to see a Top? Part 2

Short
FX:EURJPY   Euro / Japanese Yen
This is a good zone to get involved in a shorting opportunity as soon as the Daily does not close above 129.50
As I enter on the Violation of the 1H Trend I have a Entry Stop Order below the Higher Low of the last swing.

If the 1H makes a new Higher Swing then my entry will be placed under the next Higher Low.

My first Target will be a re-test of the previous Daily-Low @ 125.209
My Second Target will be an Extension around the 123 levels

Trend Analysis:
1D Trend: Bearish (Underlying Trend)
4H Trend: Bullish
1H Trend: Bullish

Don't follow my trade blindly, follow the rules of your trading plan, if you don't have one: DO NOT TRADE!
Comment: The Pair did not close above the daily key resistance yet, so the trade is still valid for Monday. The entry is the same but the stop-loss is @129.601 maintaining a Risk:Reward Ratio of 3.8:1
Order cancelled: The Pair is making at the moment a new high on the daily

Comments

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