SELL EXECUTION of EURJPY in SELL AREA 1 / SELL AREA 2, Looking to close position in TARGET AREAS (+30 PIPS)
- TARGET AREA 1 - 30 PIPS
- TARGET AREA 2 - 50 PIPS
- TARGET AREA 3 (LONGTERM) - 140 PIPS (Price Area 125)
Trade at your risk!!!
The first time price broke below support which was required for sells, resistance was formed but we never got the final confirmation required to execute on sells. Price then broke back into the range before we took an entry.
As we had already formed resistance, I was happy to go down to the 5m timeframe to confirm sells. The next 5m candle broke back below...
Price broke through support on the 30m timeframe, as we retested the broken support we took a sell entry, price hit our target and we moved our stops to BE and let a runner run, the runner ran for 30 pips before we closed our trade as support formed on the 30m timeframe.
Price broke support and made a low but resistance was not formed to take an entry, as resistance formed later on I executed a sell as the 15m candle broke the low of the previous bearish 15m, with our SL very tight above the previous candle. As candle tapped the wick of the low, entries were secured at 18 pips, before price came back to entry, so a small 18 pip...
Looking to SELL EURJPY in SELL AREA and to close position in TP AREAS (+30 PIPS)
- Execute on price action, reversal candle/ signs of exhaustion
- Apply risk management according to your trading style
After the bullish run of EJ last week it stopped at a crucial zone, my trend bias is still undecided, however, i am fairly confident that we will see EJ retrace to the zone in green (lower green box) before making its mind up whether its going to continue its break to the upside or crumble down in the downwards channel. The breakout last week could be a common...