Another opportunity to sell EurJpy
1) Head and shoulders, Broke neckline
2) Oversold Section
3) Continuing to Downtrend as long as it stays under the Emas
Sell Position
If it decides to stick to the daily trend then i think this is a good trading opportunity.
2:1 Ratio
1) It is staying under the 200 EMA
2) RSI is in the over sold
Looking at Eur Jpy as good sell set up for tonight, placing a sell stop.
1) Resistance off the 200 EMA
2) Rsi Starting Downtrend
3) Posible head and shoulders
What's going on?
We entered a downtrend at the beginning of last week. Focused on price action.
Price retraced to a well Sell position.
Preparing to dive into a stronger down trend, If we break thru the 200 Ema.
SL in case it bounces off 200.
What's going on?
This is a very good opportunity considering we are
1) Hitting a key level
2) Major news Approaching
3) Double top/Wedge- Waiting to Break Base
4) RSI Divergence- Very steep while price consolidates
Whats going on ?
Last week I had a sell of a lot size of .04 total. So I have a floating negative.
Looking at this week, I hit the next key level. Lot size .04 @ 1.07200
I expect a new TP @1.05750. placing both trades back in profit with a 38 % drawdown that it still hasn't made. So I continue to believe it will reverse soon.
What's going on?
Very interesting locations where institutional traders are pushing the market.
Ideal Trade
Sell Stop
.08 lot Entry @ 111.950
Tp @111.500
No SL
Sell Limit
.16 lot entry @112.5
New TP @ 112.0
No SL
What is going on?
I like this trade because the wave has not form just yet on this strong impulse upward. So we can take advantage of a strong reversal approaching.
Ideal Trade
Sell Stop @ 1.05500
TP @ 1.04500 (1000 mpips)
Sell Limit @ 1.06250
New Tp @ 1.05000 (1250 mpips)
No SL- If we do continue up we should be fine to place a bigger trade and recover on...
What is going on?
1st Divergence, Looking at a possible second divergence
Took sell position @111.487 W/ .04 Lots (key level) because we hit resistance on a trend, Broke thru but hitting R2 resistance.
Approaching reversal zones
Sell limits on 111.956 W/ .04 lots
Sell Limit on 112.524 W/ .08 Lots
No SL
Aiming at 38.2% drawdown to TP
Follow if you like the analysis.
After taking profit on my last trade, I ran a Fib extensions for a Key level for a reverse trade after a short. I have 2 Entries at .01 lot each. I expect to the market to rise 38.2 % from the latest key level. The key level seems to be good because it is bouncing off a zone, A head and shoulders appeared awaiting to break neckline. Where another key level is located.
