description of why i entered this trade on chart. PERSONALLY i think gold is in an uptrend already so i always go with the trend because it is everyones friend.
We had a fibonacci retracement at the 38.20% area.
EMA's cross over to the upside.
Also break and close above daily/4hr resistance.
this is a swing trade most likely going to be held over the weekend.
eur/jpy short trade.
First entry was because of break and retest of monthly key level and ma crossover.
Second entry was because of fib retracement at 50% and also extra confluence with retest of monthly key level, and also MA cross over.
I AM LONG BECAUSE OF KEY SUPPORT LEVEL ACTING STRONG AND TREND LINES WHICH SHOWING STRONG SUPPORT ALSO. APPLIED FIB AND A RETRACEMENT OFF 78.6% WE CAN SEE BUT THE A BEARISH AND BULLISH ENGULFING CANDLE CAN BE SEEN IN WHICH I HADN'T ENTERED YET WAS WAITING FOR THE PRICE TO REACH THE 50% FIB AREA.