A #short trade opportunity recently presented itself on the #euroyen (#EURJPY) #trading chart 📉.
This is indicated by the #bearish engulfing candlestick 🕯️ pattern on the 159.728 horizontal resistance level.
This indicates a fakeout (false breakout) of the same level, with potential price move in the downward 👇 ⬇️ direction (#sell).
Sufficient downward momentum should see price dumping towards the 155.000 psychological level and possibly testing the strength of the 154.264 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#crosspair
This is indicated by the #bearish engulfing candlestick 🕯️ pattern on the 159.728 horizontal resistance level.
This indicates a fakeout (false breakout) of the same level, with potential price move in the downward 👇 ⬇️ direction (#sell).
Sufficient downward momentum should see price dumping towards the 155.000 psychological level and possibly testing the strength of the 154.264 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#crosspair
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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.