LOOKING AT EURJPY YOU CAN SEE WHAT BEEN IN A VERY LONG TERM DOWNTREND WE CAN SEE ON THE CHART WE HAVE STARTED TO MAKE LOWER LOWS,LOWER HIGHS MEANING WE ARE IN A VERY NICE DOWNTREND
WE CAN SEE ON THE CHART THAT WE HAVE COME BACK UP TO THE TREND LINE AND WE CAN ALSO SEE THAT WE HAVE SEEN PRICE SLOW DOWN ONCE WE GOT TO THE LEVEL OF THE TREND LINE MEANING POTENTIAL SELLS
REASONS TO SELL EJ
61% FIB RESPECTED SHOULD DROP TO PREVIOUS LOW
4TH WAVE COMPLETED NOW WE ARE GONNA SEE SOME BEARISH MOMENTUM TO COMPLETE WAVE 5
DOWNTREND CONTINUATION
TAKE PROFIT IS IN BLUE ZONE THIS IS A NICE REGION TO START LOOKING TO EXIT THE TRADE
SELL EUR/JPY
ENTRY: 120.300
SL:120.500(20 PIPS SL)
TP:118.500(200 PIPS TP)
RISK TO REWARD 1:10
IF WE BREAK ABOVE 120.500 LEAVE THE TRADE AND WAIT FOR ANOTHER SET UP
TRADE AT YOUR OWN RISK
WE CAN SEE ON THE CHART THAT WE HAVE COME BACK UP TO THE TREND LINE AND WE CAN ALSO SEE THAT WE HAVE SEEN PRICE SLOW DOWN ONCE WE GOT TO THE LEVEL OF THE TREND LINE MEANING POTENTIAL SELLS
REASONS TO SELL EJ
61% FIB RESPECTED SHOULD DROP TO PREVIOUS LOW
4TH WAVE COMPLETED NOW WE ARE GONNA SEE SOME BEARISH MOMENTUM TO COMPLETE WAVE 5
DOWNTREND CONTINUATION
TAKE PROFIT IS IN BLUE ZONE THIS IS A NICE REGION TO START LOOKING TO EXIT THE TRADE
SELL EUR/JPY
ENTRY: 120.300
SL:120.500(20 PIPS SL)
TP:118.500(200 PIPS TP)
RISK TO REWARD 1:10
IF WE BREAK ABOVE 120.500 LEAVE THE TRADE AND WAIT FOR ANOTHER SET UP
TRADE AT YOUR OWN RISK