Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on EURJPY, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
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.
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
Price has reached a key level where it was rejected from previously, I am expecting price to close below this level and fall to the next level of support
Both have been marked on the chart - its clearer to see on the daily
Good trade this. Price action pushed up to a major level with a bearish engulfing candle printed on the 4h chart. RSI also overbought position. We might see a double top but yes, it looks a good shorting opportunity.
Please have patience on this trade and there are plenty of pips.
Let me know your thoughts.
Trade safe and good luck.