EUR/JPY SHORT
Updated
EURJPY My short term forecast for EUR/JPY is short based on a few technical factors. Firstly, it is coimg off a strong .618 retracement from an uptrend which signifies a possible strong reversal. I beleive it should easily be able to retrace to the .50 level and possibly lowers since this is a 4H .618 retracement. I will ride this short along the way with intermitent trades to secure profits in with shorter term 15M chart retracement. My stop is ath the beginning of the recent drop as I do not want to risk so much on this trade. My TP is right abovethe .50 retracement where the previous 15M low was. If it drops significantly into profit, I will adjust my SL to secure some profit.
Trade closed: stop reached
Stop reached... short I keep my stop losses tight, I prefer low risk/ high rewards trades. I will however reenter this trade if thie candle closes before the previous high
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