Another simple yet effective trading range on this pair playing out, simplicity at it's finest, identifying powerful and quantifiable trading zones and making the most out of what is there.
EURJPY has broken upside, analysis to follow, same principle from previous expectations, just unfortunate we didn't get the full retest.
A classic move back to an area of liquidity. Anticipating a move back down to last weeks low over the next few days. This is a high risk opportunity as it goes against the current retail sentiment however the potential payoff is big.
Disclaimer: this is not a signal or financial adive. Please do your due deligence.
First Week Of 2021
Signal's win rate: 86%
Total Trades: 30
Winning Trades: 26
Strategy and Risk management explanation:
- Condition: Specify potential zones in 4H and 1H and wait for the price to reach them
- Entry: Regular divergence, double top and double bottom in 15M and 5M
- Stop Loss: 1 ATR below or above the last swing
Before you get excited - Do you think the risk/reward at this current moment of time is a good place to buy now?
Wow last time I had analysed bitcoin we was going 10k - go and check my last post on that!
Technically: Broken out of wedge reached my target area of 161.8 Fib retracement my next target areas: 25k-27k - They are beautiful Fib areas!! But I won't...
as you can see price reached the last low of the chart , it acts as support area.
Also we have a very strong resistance area on top wich you can see has 3 reversal points , we have 50% Fibbonacci retracement level in this resistance area too.
RSI shows us good divergence.
I believe price tests the support one more time after the markets opening , that's a good...