EURJPY Long Trade *TRENDLINE BREAK & RETEST, FIBONACCI TREND*
Updated
Here is my simple set up on EURJPY for this week if we see a pullback. This may not happen if Euro strength / JPY weakness continues but if there is a pullback then this is my ideal entry.
- Bullish TL now broken.
- Retest of this TL
- Higher low to be made using previous resistance as support @ 125.600
- 4hr bullish TL (higher lows) is intersecting this area aswell
Multiple confluences show this 125.600 region to be a strong potential support zone for EJ to bounce off.
I would place my SL a little below the 0.786 Fib retracement level.
- Bullish TL now broken.
- Retest of this TL
- Higher low to be made using previous resistance as support @ 125.600
- 4hr bullish TL (higher lows) is intersecting this area aswell
Multiple confluences show this 125.600 region to be a strong potential support zone for EJ to bounce off.
I would place my SL a little below the 0.786 Fib retracement level.
Trade active
Trade closed manually
Closed out at Breakeven trade.
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