EURJPY longer term long
Updated
I'ts been a time ago that i've made an idea. Lets go with it and do it again.
Why do i choose to let it go down first and go up again?
It's currently at a resistance zone, as you see in the past it has been rejected/supported 4 times. It has been passed but that doesn't mean it won't be a area the price could turn around for a little time.
Now' i see the price going down towards the 0.382 fib, there we could see a perfect long opportunity towards the higher fib level (price: 122.510)
This all depends if it could pass the resistance level it's at now, even tho it could be a good long.
For now my little short target is 0.382(119.685)
From there i'd take a long just below the 0.382 fib. TP level would be 122.510(longer term trade)
(depends on how the price reacts to the resistance levels.)
Got ideas? Got comments Just tell me!
Why do i choose to let it go down first and go up again?
It's currently at a resistance zone, as you see in the past it has been rejected/supported 4 times. It has been passed but that doesn't mean it won't be a area the price could turn around for a little time.
Now' i see the price going down towards the 0.382 fib, there we could see a perfect long opportunity towards the higher fib level (price: 122.510)
This all depends if it could pass the resistance level it's at now, even tho it could be a good long.
For now my little short target is 0.382(119.685)
From there i'd take a long just below the 0.382 fib. TP level would be 122.510(longer term trade)
(depends on how the price reacts to the resistance levels.)
Got ideas? Got comments Just tell me!
Note
If it breaks this area, the idea is invalid.Then its now already a long..
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