Todd98
Short

One to watch on Monday

FX:EURJPY   Euro / Japanese Yen
Confluences:
- Break and possible retest of bullish trend line
- Recent Double top formation
- Price appears to be making its way to an area of interest between the 0.5 & 0.618 Fib levels (area of support turning into resistance)
- Possible touch of the 50 EMA

I will be waiting for price to retrace further into the area of interest then obviously waiting for some form of confirmation and then entering going short

I think this is a high probability trade but risk management is key & always

I'm relatively new to trading & analysis so any feedback or advice would be greatly appreciated :)





Comments

overall trend is up why would you sell bet u got shafted
+5 Reply
Todd98 joshmondo
@joshmondo I ended up not entering, didn’t see what I wanted to see so no harm done
Reply
mygamu joshmondo
@joshmondo, true that was clear, it was going to BUY.
Reply
Google SMC.. that stop got blown through, be well.
+5 Reply
I think you had a great analysis but just the wrong way! Keep up the good work buddy
+3 Reply
Double Top = Liquidity

Basic Retail Trading look into smart money concepts
+1 Reply
this aged well
+1 Reply
Todd98 HenryFX06
@HenryFX06 boring 🥱
Reply
how long have been learning bro? analysis is good! hope your bias is correct.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out