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justinholtgrave

EURJPY - In Trend Engulfing Long Setup 4H

Long
Euro / Japanese Yen (OANDA:EURJPY)  
justinholtgrave Updated   
OANDA:EURJPY   Euro / Japanese Yen
Support and Resistance Candlestick Analysis Fibonacci EUR jpy EURJPY LONG Engulfing Candle CHFJPY buy patterns
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supportandresistance candlestick fibonacci eur jpy eurjpy long engulfingcandle chfjpy buy patterns
EURJPY has set up a perfect in trend engulfing long setup on the 4 hour time frame.
The engulfing candle formed on Dec 23rd at 8am (closed at 12pm noon CST) engulfed 6 previous candles.
The engulfing candle also closed above resistance of the previous highs.
Price rejected the 61.8% retracement level perfectly which confirms this setup.
Entry at 61.8% retracement level.
SL 2 pips below the engulfing candle low.
TP set at 3X the risk.
Very similar setup to CHFJPY.
Trade closed: target reached:

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