EURJPY Buy Stop. Looking For Bounce Higher.
Updated
Attempting to capitalize on a possible bounce higher in EURJPY without being committed in case price falls further.
We've hit the support zone again. Stochastic is oversold, and has been for a while now; however, in case the support zone does not hold, we have at least some protection by trading this with a buy stop limit order.
Target is tentative. Will look to move stop to breakeven as soon as possible since further downside in the Euro is possible.
We've hit the support zone again. Stochastic is oversold, and has been for a while now; however, in case the support zone does not hold, we have at least some protection by trading this with a buy stop limit order.
Target is tentative. Will look to move stop to breakeven as soon as possible since further downside in the Euro is possible.
Note
The buy stop was triggered, and price continued higher. Seems to have stalled a little for now. Moved stop to breakeven for a risk-free trade.
EUR got some breathing room, but I am not sure how long that will last.
Trade closed manually
Price came very close to hitting my target. Today is the Fed interest rate decision, so ahead of that and any excess volatility, I closed the trade to secure my money. 80 pip profit.
Trade closed: target reached
Target reached.
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.