Mittsy

Mittsy

Quick Post guys EURJPY looks like hitting a good resistance area hoping for a down trend from here on in. we have a head and shoulder pattern also. more detail later got to run. good luck guys and me!!

Mittsy

Hey guys, working on simple price action here as you can see we have hit a triple bottom and are now at past resistance level hoping for a touch and a pull back. RSI hopefully stops the push up at 72. Ichi cloud showing weak support so might see another bottom hopefully. Ok i will be entering trade quite soon. Good luck me!!

Mittsy

Guys i have published this using the weekly time frame because i wanted everyone to see my reasoning behind this trade. I'm putting Elliot strategy into effect here as you can see a clear 1 to 5 climb so i'm banking on the ABC formation now. wave 5 has to be the shortest climb as wave 3 can not be the shortest. i have marked out support at around 1.93700 and that...

Mittsy

Eurjpy looks like it is continuing down trend, 4 hour candle doesn't look like it will reach previous high which is a good indication of bears winning. Eurjpy seems like it is creating a decent resistance around 135.120, and finally Fib fan 0.618 is holding well, my entry is a little high so i will keep an eye on this and enter earlier if i think it will not...

Mittsy

Taking advantage of the bearish control. As you can see Eur is bouncing off Fib resistance 0.618 there is also a previous support line which has now become resistance at roughly 1.10776. My enter is a bit above Fib Line as i believe we might have some retrace before touching my entry before continuing downtrend and stop loss is placed just above previous high....

Mittsy

Taking advantage of eur down fall. This is a risky trade due to Greece news hence SL is tight. Will move SL asap to lower risk of trade if downtrend goes good, Might consider taking profit at 1.09128 which was last bounce off. PS first post go easy on me. Thank you