TOP DOWN ANALYSIS ON EURJPY
A thread
A thread
Comment:
On the 4 hour timeframe, after the bullish move it had made, the market is now consolidating and also forming an inverted head and shoulders. Which has been broken and there be a retest on that neckline too. I am expecting the price to break above the horizontal line above for a good confirmation of being bullish long term.
On the 4 hour timeframe, after the bullish move it had made, the market is now consolidating and also forming an inverted head and shoulders. Which has been broken and there be a retest on that neckline too. I am expecting the price to break above the horizontal line above for a good confirmation of being bullish long term.
Comment:
This trade idea is for traders who can hold their positions for very long periods of time and are patient for it to play out. Please consider checking lower timeframes to know where to place your entries, take profit and stop loss.
Zooming out, a double bottom has been spotted on the daily timeframe and its neckline had been retested. I had spotted this double bottom on my previous analysis.
Link to analysis