Trade Ideas Educator: EURJPY GartleyUsually, this is a setup I won't be interested, but this round, I had even placed a pending order for this trade. So let's start with why not.
1) Point C touches A, not a good sign and very much look like a retest of support and it does have repetition.
2) It is a counter-trend setup based on this timeframe.
3) Do not provide a healthy reward:risk base on this timeframe
Now, the reasons for me to engage this trade and the trade, and already placed my pending order.
1) EURJPY daily chart is on a bearish trend and it's merely a retest or the high, target1 has not officially reached yet.
2) There is an obvious break and close below the support based on the daily chart, after the Point D completion.
3) Is trend trading based on the daily timeframe
4) Trade based on special strategy, it provides a fantastic Reward:Risk.
For more information, check the link on my signature at point (3)
