SHORT POSITION:
Price has broken and retested the upwards
channel as well as resistance.
Now waiting for entry at resistance or enter
depending on market open.
HOWEVER:
Price has already broke and retested
and has double topped on the 1H time
frame, therefore if I enter the RR may
not be as appealing.
I can see a continuation of the bearish trend after a retracement to the 25 EMA due to the RSI being too low.
To support my prediction, I have the bearish trend coming off from a resistance found in the daily timeframe.
The stop-loss has been positioned with respect to the previous consolidation region. An ambitious target price was chosen short of a support...
Hi guys,
it's been a while since i last posted an idea. I wanted to share with you this simple setup i'm looking at right now. I've already entered short in this pair, for a bunch of reasons. First of all, we have daily structure looking left (that is always key), then you can see a big bat pattern completed from some hours, but also a double top with RSI...
Key resistance area has been rejected. It is likely that it'll go down by the end of this week and possibly hitting target 2 once target 1 is achieved.
Quick Analysis Of EURJPY Using Simple Methods.
Analysis of 4H Chart
- Methods Used For Analysis
- Trend Line
- Fib Retracement
- Support & Resistance
*POTENTIAL 80-100+ PIPS*
Last week saw JPY continue to advance adding further weight to the breakdown seen the week before
Price is currently just above resistance turned support at 124.094 and below here we have sloping trendline support the June 17 low (the two intersect, 20th Aug).
Traders not already short EUR / JPY could wait for the aforementioned levels to clear before taking...
On the M30 chart of EURJPY, the price has started a new downtrend within wave C of ABC zigzag. We recommend selling the instrument if the price breaks the fractal level.
Daily: Confirmation of an inside bar closing on the Daily Time frame
4HR : Head and shoulders pattern evident
Take trades on 1hr look on lower time frames for key entry levels
Currently have what looks like a retracement on the downtrend with EURJPY, up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for...
We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting...
Currently rejecting 0.382 Fib level at 132.213 and I think this level is going to hold, potential short with an entry around 132.000 and if price holds out past daily trendline then this pair could continue to melt down to 130.400 area.
One level of resistance already taken out and it's heading to the major swing high. Also at the outer Bollinger Band so maybe we can expect a reversal? Another one on the watchlist.
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