It seems to me that EURJPY didn't capture significant liquidity from the first stop loss hunt. Price seems to be pushing up to tap the second zone of liquidity before it hopefully falls into our target area.
Price isn't ready to drop just yet IMO.. key resistance is at 137.100 so until then... BUY THE DIPS
Looking for any reversal signals to go long on this pair.. If price continues to drop then I am waiting for a bounce off of the trendline to continue the bullish move to the top
Hi all, hope you all had a great weekend and ready for a fresh week on the charts.
The entry price, stop loss (in pipettes) and take profit are shown on the chart itself.
Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress.
My name is Al, I'm 40 and from the UK.
I've been trading for...
Good morning all, as we can see EURJPY is currently retesting the same key level which shows there is a large number of bulls trying to enter the market.... However, let's not have itchy fingers and place a buy order on the break... I say we wait for a retest and failure for bears to push the market back below the current key level will give me a solid sign that...
This range is getting ugly, orders will be loading up buy & sell-side. I assume the price will want to come down to a previous order block before it considers reversing into the previous high point. Money distribution will be highly likely on the pair, expect moves both ways.
We usually see false starts to the trend at market open, this suggests to me that price may want to continue to the upside after luring in a substantial amount of sellers. I will be waiting for the price to wipe out the most recent support before I begin to consider some buys.
Impulsive sellers last week will have now have been stopped out in positions opening up liquidity for the banks to take advantage of. Fingers crossed we see a smooth decline from this hourly order block down into my level marked.
The huge gap would have caused some damage with sell stops being activated, again creating more liquidity for the correct move to follow.
This pair had a fantastic bull run without any major pullbacks, at some point the price will have to pull back significantly to shake some of the buyers out of the market.
I believe price will pullback from here into the lower timeframe order blocks to fill the liquidity zone void.
Sentiment suggests the market is selling EJ hard so we must be cautious.
As stated in my last analysis this has now retraced back to support after it broke through a major downward trendline. If this can reject this support and stay above the trendline we can long this. It has just made a sharp downward move so this could sharply rise again but the safest way to trade is to wait for the market to calm before entering a trade. MACD is...