Euro / Japanese YenShort
EURJPY Short
Updated
Hello guys.
In my previous analysis, I have suggested that the price might move in a bearish momentum because the price seems to not break the upper trend line of the rising channel. As we can see here, the price is trying to fill the bearish imbalance created on Friday. It might retest the resistance zone again, maybe to liquidate sellers who had stop losses on that zone.
My entry is at 146.2, and I have used the pullback strategy to place my entry position. My stop loss is at 147.6, a place which is 1% of my account and also it is above the trend line/ resistance zone.
My TP1 is at 144.8, Tp 2 at 143.4 and Tp 3 at 142.0. I have placed my targets according to my R:R.
I am targeting a R:R of 1:3 in this scenario.
Kindly, I advice that incase our trade is activated and the price hits the first Tp, secure your trades by moving the stop loss above the entry zone.
Risk only 1-2% of your account.
In my previous analysis, I have suggested that the price might move in a bearish momentum because the price seems to not break the upper trend line of the rising channel. As we can see here, the price is trying to fill the bearish imbalance created on Friday. It might retest the resistance zone again, maybe to liquidate sellers who had stop losses on that zone.
My entry is at 146.2, and I have used the pullback strategy to place my entry position. My stop loss is at 147.6, a place which is 1% of my account and also it is above the trend line/ resistance zone.
My TP1 is at 144.8, Tp 2 at 143.4 and Tp 3 at 142.0. I have placed my targets according to my R:R.
I am targeting a R:R of 1:3 in this scenario.
Kindly, I advice that incase our trade is activated and the price hits the first Tp, secure your trades by moving the stop loss above the entry zone.
Risk only 1-2% of your account.
Trade active
Trade closed: stop reached
Sl Hit.I will upload a new analysis with new entry and stop loss.
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