EURJPY - FOREX - 05. NOVE. 2019Welcome to our weekly trade setup ( EURJPY )!
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1 HOUR
Bearish pullback and price action.
4 HOUR
Sideways moving market and structure.
DAILY
Overall bullish market with great long entries.
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FOREX SETUP
BUY EURJPY
1ST ENTRY @ 120.570
2ND ENTRY @ 120.330 (wait for trigger)
SL @ 119.910
TP @ 121.300
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Eurjpybuy
EURJPY - Buy nowEURJPY is in down trend at Daily chart but there is a support at 117.100 where rate can be revised. In the mean time bottom bollinger band start going away from the candle shows us a bullish movement. RSI shows that whenever price hit 37.83 level price gone up and we can depend on these data for a BUY option.
Note: Trade at your own risk, TP's and SL is up to you according to your account size.
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EURJPY LongAlmost similar idea as EURUSD earlier but need to be more cautious if S&P500 suddenly drops instead of climb to 2900. Initial TP @125.6 (61.8 fib) and next TP @126 (100 fib), with conservative SL just few pips below this week's low.
S&P 500:
Daily:
Weekly:
Confidence: 80% (less confident here than in EURUSD because market is still risk-off in general + the "rumored" recession + risks related to ongoing trade "negotiations" between US and China, which all give me a bullish bias on JPY if things indeed go gloom and doom irl lol)
EURJPY SYMMETRICAL TRIANGLE.EURJPY in Daily Time frame is Following symmetrical triangle
we need to wait for breakout then we can buy this Pair.
Note one think it can be broken Downside as well depend on market condition if it breaks downside then follow the rule of the symmetrical triangle.
What is a symmetrical triangle?
The symmetrical triangle is one of three important triangle patterns defined in classical technical analysis. The other two triangles are the bullish ascending triangle pattern and the bearish descending triangle pattern. The symmetrical triangle consists of a simultaneous downtrend and uptrend lines.
Note: This is only for Educational Purpose this is not Investment advice.
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Thanks
Adil Khan