Euro / Japanese YenShort
EUR/JPY SHORT - Wedge/LH/Trend Lines/Fib/Shooting Star
Updated
Took a short on this pair due to it bouncing from a strong cross trend line, creating HH and LH in an 1HR ascending channel, and the previous 1HR peak lining up with the fib to touch the trend line again, so i placed a fib on this 1HR uptrend and the 61.8% level lined up with the trend lines exactly to TP, then it should continue upwards to a HH. Price is also in a wedge and bounced from the CTL and created a 1HR shooting star and 4HR doji.
TP @ 119.135
SL @ 119.964
R/R @ 1.8
TP @ 119.135
SL @ 119.964
R/R @ 1.8
Trade closed: stop reached
Stopped out by 0.5 pips but re-entered again on the H1 doji candle signalling indecision after an uptrend and on the touch of the trend line again. New R/R is 4.4 for the new trade with the same TP.Trade closed: stop reached
Stopped again.
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