Short

EURJPY: Shorting the pair

Updated

Hi guys,

I am shorting the pair around these levels.

The above chart shows the current strong resistances/supports (red lines).

The pair is currently trading at a HVN area from a Daily perspective.

This area is subject to a bearish divergence on many timeframes.

I am shorting the pair and targeting next HVN node around 131.350.

Happy trading!

Jesse

Comment

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Hi guys, here's an update about my yesterdays' idea.

We are still trading on a High Volume Node (HVN) but it's interesting to note that volumes are decreasing even though price is pushing higher. This could suggest we are somehow topping.

Only a strong breakout above the current levels will invalidate the idea.

Best,

Jesse

Comment

The target zone has changed; it's around 131.480-131.500

Why this area? Because it's a HVN + a confluence zone (former flat resistance).

The market will sooner or later test this area as a support (pullback) or break it to the downside.

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***UPDATE***

Ok guys, since we have lots of events tomorrow, I will change a little bit my target.

I have added a Fib from the low to the possible top (not confirmed yet) and it seems that 131.900 131.950 is a level of interest as you can see in the chart above.

So the plan is the following: if the Head and Shoulders pattern is confirmed on M15, I will exit the trade at 131.950.

Volumes should be increasing at this key resistance level which is not the case. This suggests that we could have a price reversal, or at least a pullback to 23.6% fib level at least.

Trade with care!

Jesse

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* Invalidation if price breaks the current tops, around 133.200. But as you know, I do not put any tight stop.

* Target 131.950 = 60+ pips from the entry price.

Cheers

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Hey there

Trade still active. It did not break the current highs during the Asian session. Let’s see how it goes at London opening.

Have a good day y’all

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Still in the trade

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We should reached the target of 131.950 pretty soon

Trade closed: target reached

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Did someone take the trade?

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