HERE ARE 2 GREAT REASONS TO GET LONG ON EURJPY
EURJPY 4HR CHART
BREAK AND CLOSE ABOVE RECENT TRENDLINE RESISTANCE (BLACK DOTTED LINE), TELLING ME THAT THE SELLERS ARE FAILING AND THE BUYERS ARE TRYING TO TAKE CONTROL OF THE MARKET.
EURJPY D CHART
BULLISH BAT PATTERN
PRICE HAS BEEN TRENDING DOWN (LOWER LOWS, LOWER HIGHS) FOR THE PAST FEW MONTHS, BUT NOTICE THE HIGH AMOUNT OF CONSOLIDATION THE PAST 2 WEEKS. ANOTHER SIGN THAT WE COULD BE REVERSING TO THE UPSIDE!
STOP @ 127.00, ENTRY @ 128.30, TP @ 131.75
129 PIPS : 346 PIPS (RISK : REWARD)
DISCLAIMER: Trade this setup at your own risk. This post is an “educated guess” based upon my technical analysis. If you are trading live, limit your risk to 2% of your account balance. If you have zero experience trading, I highly recommend you start with a demo account before going live. Trading without a strategy and without risk management is no different than gambling. Please trade safe and responsibly.
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LEVELSFX 