Hello Guys,
Today i am going to show you (after a few months of inactivity) another technical analysis of mine and the idea of why i want to go long on EJ.
Confluence 1: EJ broke out of a downside trend that lasted 2 months and a few days, that usually means we are heading towards a new trend (no lower lows)
Confluence 2: Ej broke above my MA's
Confluence 3: What do i do when the trend breaks? wait for a pullback. I like to wait for 0,382 FIB pullback.
Confluence 4: Fundamentally JPY is a safe heaven currency, but with the positive news on the vaccine and USD also being a safe heaven (usd weak= euro strong) that means our idea is also fundamentally a good reason.
So, lets patiently wait to come to our Fib. My SL is placed at 0.886 Fib.
See ya :D
Today i am going to show you (after a few months of inactivity) another technical analysis of mine and the idea of why i want to go long on EJ.
Confluence 1: EJ broke out of a downside trend that lasted 2 months and a few days, that usually means we are heading towards a new trend (no lower lows)
Confluence 2: Ej broke above my MA's
Confluence 3: What do i do when the trend breaks? wait for a pullback. I like to wait for 0,382 FIB pullback.
Confluence 4: Fundamentally JPY is a safe heaven currency, but with the positive news on the vaccine and USD also being a safe heaven (usd weak= euro strong) that means our idea is also fundamentally a good reason.
So, lets patiently wait to come to our Fib. My SL is placed at 0.886 Fib.
See ya :D
Note
at 126 we are taking partial profit, moving sl to Break even and letting it do its thing!Note
240 pips. partial profit takenNote
At 0.382 or 0.5 i will add another position and extend our tp.
Note
i will re enter again on EJ. fundamentals changed (brexit deal done)Trade closed: target reached
closing trade
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.