timmynorin
Short

EURJPY 1H - Continuing bearish

FX:EURJPY   Euro / Japanese Yen
Price action has not yet told me to go long, and since there still are bearish signals to this I'm sticking to my initial target of 120.000.

So far we have managed to bag 150 pips during the last 7 days from this bearish fall.

Lets see if we can continue this pip-hunt, all the way to target!


Before I start to consider a bullish approach, I need to see a break and close outside falling trendline and above 122.000
Comment: First target hit, +74 pips in the bag.

Stop loss rolled to break even / minor profit for the remaining position.

Now onwards to 120.000!
Trade closed: target reached: Target 2 hit, +150 pips. Good one!

Comments

Hi @timmynorin - Where is your entry to short? 121.90?
Reply
timmynorin GeorgeKapas
Hi @GeorgeKapas! I have had 3 different entries - 122.270, 121.341 and now 121.584 which this chart represents
Reply
GeorgeKapas GeorgeKapas
Sorry - I see your entry is at 121.58
Reply
timmynorin GeorgeKapas
@GeorgeKapas, We might very well see a retrace to 121.70, so the ship has definitely not sailed yet!
Reply
GeorgeKapas timmynorin
@timmynorin, Thanks for the insight!
Reply
GeorgeKapas timmynorin
@timmynorin, Do you think the ship has sailed? I see a support at 121.166 on 15th March at 18:00.

Reply
timmynorin GeorgeKapas
@GeorgeKapas, Yes, for the time being I would say so. But - there will be a new opportunity just around the corner!
Reply
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