Hi traders:
A quick update on EURJPY short from earlier week.
Price did not breakout from previous lower time frame correction, instead it made another move up.
Whats important is price move up correctively by forming a wedge structure up.
Last bit of price action had a Head and Shoulder Pattern and a double tops formation.
Price then impulse down strong, and formed a mini correction in the lower time frame for continuations.
Higher time frame target would still be to the lows of the channel structure. Expect more corrections along the way.
Thank you
A quick update on EURJPY short from earlier week.
Price did not breakout from previous lower time frame correction, instead it made another move up.
Whats important is price move up correctively by forming a wedge structure up.
Last bit of price action had a Head and Shoulder Pattern and a double tops formation.
Price then impulse down strong, and formed a mini correction in the lower time frame for continuations.
Higher time frame target would still be to the lows of the channel structure. Expect more corrections along the way.
Thank you
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