Stop and reversed! Sellers wins the battle at 129.57. We have closed our long at 129.54 +34 Pips. A short position is executed. Stop loss at 129.75. We expect the structural point at 129.13 to be broken, if price remains below we may see 128.80 today.
If price manage to take us out of the short, we will scratch this eurjpy trade for today; that will be a sign of consolidation in price.
Live update continues..
If price manage to take us out of the short, we will scratch this eurjpy trade for today; that will be a sign of consolidation in price.
Live update continues..
Trade active
Note
We would like to see a capitulation to the downside below the structural point 129.13.Note
New set of Sellers have now stepped into the market; they've pushed price lower below 61.8 % of the bullish run this morning. Some Strong Buyers at 129.07, this area might prove a support to price. However if we clear below , expect lower prices.Keep the short.
Note
Nice break below 129.13 Structure. We will now keep our eyes on the Strong Buyers lurking just below. Keep shorts.Note
Buyers lost the battle! we keep our short position.Final confirmation of structural Failure- Big down-trend resumes.
Potentially we can keep hold of this trade for as long as possible.
Key thing to point out:
- Price must remain below 129.13 Structure
Note
We have now reached the daily range low. Technically we can close out the position here for intraday profit taking. current profit is 80 Pips! not bad.We will look for candle colour to confirm if we will close this here otherwise more room to the downside.
Always let the matket decide, if the market offer 200 pips and you took 90 pips, you have no one to blame but yourself. majority of traders love to keep losing position than keep the winners.
Have a blessed evening.
Maybe one more update today on this pair.
Trade closed: target reached
We have closed this position. Yellow Bullish engulphing appeared.Anything can happen. In total we made 114 Pips on EURJPY today
32 pips long
82 Pips short.
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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.