EJ
EJ Looking at a possible head & shoulder play out on the daily which would throw this down into 124.30 for the base/neckline , checking 4 hour & 15 min for longs into 127 if this H&S isn't going to play out. We shall see
EJ possible longtnice uptrend on EJ looks too good to miss out on. i want price to come back and test the trend line and support again so our entry is good, this also correlates with the 0.5 fibonacci level. all of these confluences together if we see nice rejections should give us a nice edge over the market. this mixed with good risk management and your most of the way there to becoming profitable
Confluence in EURJPYOn the daily we have a typical inverse head and shoulders (blue) cup and handle (green) confluence. We are approaching a huge supply zone.
The confluence on this chart is uncanny, if you zoom out you will see.
Long to the grey target and the green target is if we break the massive symmetrical triangle.
Big buy coming up within the next couple days.
eurjpy eurjpy long trade, found some demand on a stop hunt zone (red). Main bias is short but this trade is an uptrend. Looking for a buy before market reverses.
eurjpy eurjpy is approaching my s/r zone (green). Waiting for price to either come there or approach my stop hunt zone (red).
eurjpy long than shorteurjpy has broken and retested the ltf grey zone and created a bullish engulfing which shows me buyers are in power. Waiting on the indecisive candles to either cause another breakout to the upside or to retest grey zone.
main bias for eurjpy is still short due to daily supply/4hr zone (green)
EURJPYWe had a nice rejection from the 50% fib region. I had a Buy limit set before I went to sleep during Asian session to catch EJ on a pullback and give me a good R:R. Woke up to in profits and moving to the upside nicely.
EURJPY long/short trade.EURJPY is now consolidating inside of daily supply (green) and stophunt zone (red). Price crated minor zones (grey) within the supply and I am waiting for a bounce off each zone until it breaks above and retests highest minor zone (grey).
Top Down Analysis at its bestMONTHLY TIMEFRAME
Price is currently trending down and now we can see some consolidation from last month and this one too.
A test of the 0.382 level on this fib has been achieved. The downward trend to continue
WEEKLY TIMEFRAME
An M-formation pattern is to complete here and more confluence to go for downward movement.
DAILY TIMEFRAME
Price has touched and is currently retesting 123.983 resistance level.
EURJPY shortprice reached and broke green zone (support resistance/supply demand) and it went straight to the highest high which was stop hunt zone cause I know there is pending orders at that level.
EUR/JPY WEEKLY OUTLOOK.At this moment in time, I am looking for sells simply because the setups look kinda thicc.
However, I will not be surprised if price moves higher to conform to monthly resistance.
EUR/JPY PLAYS OUT AS PLANNEDTOOK TRADE PURELY BASED ON PRICE ACTION.
SIMPLE BREAK OF STRUCTURE AND TARGETS AT NEXT SIGNIFICANT LEVEL.
SEE PREVIOUS POST TO SEE WHAT I PLANNED BEFORE TRADE WAS TAKEN.
eurjpy shortwaiting for eujpy to reach supply/resistance zone preferably coming to any black ray lines because price dropped from these zones.
EURJPY SHORTwait for clear indications of Sell if we see another rejection of 0.618 we may open a short position.
