EUR / JPY DAILY LONG OPPORTUNITY.
Updated
https://www.tradingview.com/x/UuFAdBCH/
DESCRIPTION
EUR JPY has rejected from a strong demand zone to the left and formed a text book formation of a head and shoulder pattern .
price ATM has the potential of retesting the neckline of the H&S pattern , and if so probability is there for a potential long with different entry methods.
Will personally look to enter if the price comes down to 163.500 level in either of London / New York session.
If price does go long after retest and opportunity is missed there will be other opportunity to buy using different entry methods , which will be updated as we go along and how the markets behave.
DESCRIPTION
EUR JPY has rejected from a strong demand zone to the left and formed a text book formation of a head and shoulder pattern .
price ATM has the potential of retesting the neckline of the H&S pattern , and if so probability is there for a potential long with different entry methods.
Will personally look to enter if the price comes down to 163.500 level in either of London / New York session.
If price does go long after retest and opportunity is missed there will be other opportunity to buy using different entry methods , which will be updated as we go along and how the markets behave.
Note
THE 50 and 200 EMA is still above the candle sticks on 4hr pattern , so its good to wait for entries atm . Trade active
Note
trade is active , however as this trade taken is on bigger TF , lot of patience is needed for it to see it play on the full scale , for now the price might retest again on our entry . So , just be calm and set and forget the tradee , let it run as it is. Note
Update - 70 Pips up from my point of entry . Note
Trade update - Today saw the trade rally up by 70 + pips as of UK time 2150 , lets secure the trade and make decisions as it plays out.
Note
Price again looks top retest the neckline , no problem with that , will keep holding , probably look another opportunity to enter , as long as risk are managed , there is nothing to worry about , its part of the game.
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