EURJPY LONG
Why are we entering?
- Expecting JPY Weakness & EUR Strength
- Price is approaching a structure level & 1.38 fibonacci level
- We are at the end of our ABC correction
What are we waiting for to happen?
- rejection of structure level & fibonacci level
- break of WFB trendline / RISK trendline
Entry
SAFE Entry: Rejection of structure level & fibonacci level with a break of RISK/WFB
Risk Entry 1: Rejection of structure level & fibonacci level
Risk Entry 2: Break of WFB/RISK trendline
Once entered, where will our Stoploss be?
-Below the 1.38 fibonacci (above 135.1) 30 pips
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP : - Previous high 144.1 (870pips)
- Final TP -0.618 fibonacci : 148 (1250pips)
Why are we entering?
- Expecting JPY Weakness & EUR Strength
- Price is approaching a structure level & 1.38 fibonacci level
- We are at the end of our ABC correction
What are we waiting for to happen?
- rejection of structure level & fibonacci level
- break of WFB trendline / RISK trendline
Entry
SAFE Entry: Rejection of structure level & fibonacci level with a break of RISK/WFB
Risk Entry 1: Rejection of structure level & fibonacci level
Risk Entry 2: Break of WFB/RISK trendline
Once entered, where will our Stoploss be?
-Below the 1.38 fibonacci (above 135.1) 30 pips
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP : - Previous high 144.1 (870pips)
- Final TP -0.618 fibonacci : 148 (1250pips)
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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.
Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
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.