EURJPY
This is my re-entry trade for EUR/JPY. Analysis is the same as the previos idea, however i adjusted my TP to the low of the previous candles. .618 strong 4H retracement reversal is my key indicator for a short-sell. Also, plan on riding this down with multiple short-term trades. If it hits stop, I will wait about 12 more hours until i consider a re-entry.
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This trade hit SL. Though my Sl was shy of a bounceback and my TP was shy of being hit following the bounceback, it ultimately swung back up with a lot of buying power creating a new high. This may be a sign of a trend continuation of the .618 retracement. and contunuing a strong bull trend.