Eur-jpy
DID YOU CATCH THE EURJPY BUS POSTED 2 DAYS AGO?? OPEN + 2.8% !!EURJPY SELL ALERT POSTED COUPLE DAYS AGO, DID YOU GET IN? ARE YOU STILL IN? LET ME KNOW :)
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow.
We just have to do what Percy does.
Please see our related ideas below for more information to explain what we do and how it can help you.
EURJPY - Fib levels I don't use the typical multi TF levels.
I choose a bunch of TF that I am more comfortable with. (Thus the 2h chart)
I have market everything on the chart for you. I prefer to keep the chart as clean as possible.
And Personally, I am not a big fan of candlesticks. Whether on the chart or off the chart.
Focus more on your risk management and psychology, cause the technical part is the easiest part. It is the Risk and the psychology that absolutely murder the retail traders. Not the technical.
Happy trading and stay safe. :)
ANALYSIS ON EURJPYHello, my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is currently inside the Ascending channel and has hit its support. One can go for a buy.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing on-demand. So, let us know which pair you want our analysis on, and we will get it for you. Do like and follow us.
💡Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 123.45
TP2= @ 123.05
TP3= @ 122.55
SL: Break Above R2
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Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
💡Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 123.45
TP2= @ 123.05
TP3= @ 122.55
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
EURJPY STILL VALID FOR SELL ENTRY - BUS HASN'T LEFT YET ! EURJPY - still showing signs of bearish momentum (red candles), also multiple rejections of the EMA, still valid for entry if you haven't got on the bus yet !
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow.
We just have to do what Percy does.
Please see our related ideas below for more information to explain what we do and how it can help you.
EURJPY - DAY TRADE VIEWEURJPY - Towards downward sloping based on trend line, It should fall further down.
My approach will be a sell here at current price 124.620
Maintain stop loss around 125.100
Potential downside target 124.050
Trade as per your risk appetite, I will be glad to see your likes & comment.
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EURJPY 4hour Analysis October 11th, 2020EURJPY Long Idea
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Price action continues with bullish momentum and establishes a confirmed trend. Look to enter on a higher low/ pullback to key support 124.350 with strong bullish setups. Target higher toward key resistance around 126.500
Trade scenario 2: We see price action reverse with a break below 124.350. Enter short on a confirmed lower high and target lower. Look for price action to reach the 122.600 area.