EURJPY Short Term Potential Sell Idea

It looks like EURJPY is topping out from a momentum and money flow point of view. There is a chance that it starts its descent down from here.

Looking for a break and retest of the LTF bullish structure to push down to .5 or .618 fib.

Support for this idea:

• Supply zone has been very strong since mid-March
  
• My indicator showing slow stoch topping out and a potential medium stoch rebound which could trigger a downward move
  
• Money flow is showing signs of exhaustion
  
• Previous COT data shows a decrease of EUR and an increase in JPY net positions.
  

Let me know your thoughts.

Trade Safe!
HEET

تم فتح الصفقة:

I took the high-risk entry on the retest of the resistance when my indicator triggered a rebound entry. Very happy I took that entry as it is melted down after.

تعليق:

The first target hit and looks like we may get continuation.
JPY is starting to show some strength again and EU is melting.

أغلقت الصفقة: تم الوصول للهدف:

Target just hit. I left 1 lot left in the trade running.

تعليق:

I'm completely out after the 2nd bullish candle pushed up. It's a good thing I got out as there was good retail sales news for EUR.

No complaints, today was a good day. I finished the day up 1.7% just on this trade.