EurJpy headed towards the SKY?
Updated
Follow for more analysis.
1:4H/1H: Market in a bullish run making HH/HL.
2:Market broke previous HH and now retesting it at level 123.000.
3:Looking left 123.000 level has been holding the price strongly(in past).
4:Big bullish candle showing strong buyers in the market.
5:Market at 61% level of fibs(golden ratio).
6:Now let the market break structure on 1H TF as well for more conformation
7:Or let 123.400 minor level break on 4H TF or limit can be set at the level.
8:Wait for Bullish engulfing or pin bar or any strong candlestick pattern.
9:Setup may perform next week.
Note:this is not a signal, the purpose is solely for education and understanding.
:Trade at your own risk.
1:4H/1H: Market in a bullish run making HH/HL.
2:Market broke previous HH and now retesting it at level 123.000.
3:Looking left 123.000 level has been holding the price strongly(in past).
4:Big bullish candle showing strong buyers in the market.
5:Market at 61% level of fibs(golden ratio).
6:Now let the market break structure on 1H TF as well for more conformation
7:Or let 123.400 minor level break on 4H TF or limit can be set at the level.
8:Wait for Bullish engulfing or pin bar or any strong candlestick pattern.
9:Setup may perform next week.
Note:this is not a signal, the purpose is solely for education and understanding.
:Trade at your own risk.
Note
market will likely tap 38% fibs and pullback to 50% that is where many of you can find an opportunity to get long and ride the impulsive move.
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.