EURJPY Long, RR 1 : 2.4
EURJPY 4hourly chart forming a triangle, will it break or bouce?
By using 4hourly TF, I will try a LONG position for breakout test with reasonable risk reward.
Reason :
- With the current PA in play, 128.50 will be a support area.
- Daily candlestick still resting above my EMA21, leaving tail below.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 129.00 area ; TP : 132.00 ; SL 128.00 area.
Risk Reward 1 : 2.4
Always remember to trade with stop-loss, market is crazy & cunning*
By using 4hourly TF, I will try a LONG position for breakout test with reasonable risk reward.
Reason :
- With the current PA in play, 128.50 will be a support area.
- Daily candlestick still resting above my EMA21, leaving tail below.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 129.00 area ; TP : 132.00 ; SL 128.00 area.
Risk Reward 1 : 2.4
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active
+110pips on hand now! Move SL to BE, secure a risk free trade.
Trade closed: stop reached
Trade hit SL at BE.Trade active
For those who re-entered, you should now acquired +120pips. Move SL to BE, secure a risk free trade.
Note
130.50 obvious resistance there, retested few times.Patience is the key.
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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.