Eurjpyidea
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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Adil Khan
EURJPY Short for 120 pipsEURJPY is entering a kind of ascending wedge pattern.
Target profit of around 100-120 pips for now.
Always Keep It Sweet n Simple, KISS.
Just embrace the most obvious pattern, while maintaining a good risk management.
EURJPY has been doing lower highs and lower lows for quite some time, and the next big trend will be established only after breaking either above or below the triangle/wedge base.
TAYOR
EURJYP BuyI believe the trend has reversed and we are now bullish but have hit a resistance point and should retrace where buyers may take a long position again. I have identified 2 places where you may wish to do a buy either at leg B OR you can decide to wait for market to go lower before buying in again at leg D.
My labelled zones are only a rough idea of where i think the market may touch. Decide on your own Entry & Exit.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
EURJPY - BUYFX_IDC:EURJPY
I am trading on a small account, documenting my progress. This is not intended to be a signal!
Break of H4 Trend Line to test support at 124.000. Expeting a retest of lower trend line structre along with fib level 0.382 were we have our first take profit. Take profit 2 extended to our next fib level at 0.618 at 125.500.
Sell at CMP - 124.250
SL - 123.750
TP - 125.000
TP 2 - 125.500