EURJPY Watch for trend continuation pattern on 15 minute.

Hi fellows. EURJPY is showing nice price action at bottom trend line i am anticipating bullish wave. Watch for trend continuation pattern on 15 minute time frame as it is showing nice price action on lower time frame. So try to buy as much low as you can for better risk reward ratio. In case price breakdown then it may change the pattern and structure which is holding since couple of weeks. Good Luck fellows.

Note

Price is testing previous 15 minute impulse. In case price breakdown that impulse then we will look for another impulse on 15 minute before continuation to the upside. Currently price is testing the previous 15 minute impulse so price still in the bigger pattern a clear break will change the formation of ascending channel.

Note

Price runing under the channel line, For continuation to the downside we need a trend continuation pattern formation under channel trend line only then we gonna get the trade setup for bearish wave. If price keep pushing to the downside i am not interested to sell until i will see a continuation formation and strong impulse on lower time frame will give as a signal that price is going to get back in the channel.

Note

If price form flag with in the channel then sell it for short term.

Note

Pay attention at bottom for impulse fellows. If impulse will not appear then flag will give you an opportunity for short and if you bought early than you can close on breakeven and can look for short.

Note

so we got continuation formation.

Note

Wave-Trader

For Training visit.
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran

Also on:

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.

Wave-Trader