EURJPY rising in this long wedge channel and seems to change character in a supply zone. A break on the downside of the channel might offer a short opportunity.
But if price does keeps rising, another potential liquidity zone is awaiting and might also offer a short set up.
Overall the euro seems to lose steam and if you look on the bigger time frame of EURJPY, it also has some change of character going on, which might indicate that price is in for a potential
correctional move to the downside.
But if price does keeps rising, another potential liquidity zone is awaiting and might also offer a short set up.
Overall the euro seems to lose steam and if you look on the bigger time frame of EURJPY, it also has some change of character going on, which might indicate that price is in for a potential
correctional move to the downside.
Note
The daily chartTrade active
Trade is live due to a triggered stop order. Price overshot into the upper supply zone, yet failed so far to make a new high. Overall the Yen showing some strength today, so price might be in for a correction.Note
Not the greatest stop order, but bets are still on the table.A potential scenario I'm looking to trade rn:
Trade active
As mentioned, the trade is active and longTrade closed: stop reached
Tightened up the stop up to breakeven, due to incoming news and got hit.
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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.