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Eurjpyshort

EURJPY Short Bias .Waiting for Pullback for Short Entry. UpdateHey Guys! As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114. 40 . Here's an update! On the left side of the chart this was consistently short term short strength confirmed by upward trendlines break outs and no immediate breaks back in. ( No---! For I want long strength to kick back in for the short entry!) Then in the middle of the chart, price began to base out with consecutive 1h downward trendline break outs and no immediate breaks back in. ( Yes!! For short strength began to wane a bit!) Soon after the 1H chart began confirming long strength with the upward trendline break out and immediate break back in. (Double Yes!! For long strength kicking back in!) However, at the recent 1h highs, price is giving mixed signals. A 1M Fake Double Top that went its target height.(Showing short term short strength) and moreover, a 1h upward trendline Break out, but no immediate break back in. (Also showing short term short strength) However, if there was truly short term short strength, the 1M Fake Double Top's 2nd Top price level should not be hit. So, at the current moment, price is likely to range a bit. Perhaps a NFP consolidation. But for the time being, I'll still be waiting for a 131.67 pullback for a short entry. Moreover, if the NFP release happens to be the catalyst for the pullback, I may give it a couple of days to see if I can get an even better short entry price. Perhaps at 132.67 with the same risk parameters. OK! That's it for the update! Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
EUR/JPY WILL IT MAKE THE RETRACEMENT?Monthly The price is moving between supply and demand. The price is currently on the way to the supply area. We can definitely expect the price to reject the supply area. Weekly Price is currently over extended. When price is over extended we can expect a correction. We could definitely expect the price to reach a little higher before the correction to the down side. Daily The price is currently creation higher highs and higher lows. The price is definitely in an up trend. When the price switch to bearish structure we can start looking for entry's. In general we have to wait for the change of environment to the down side in M,W and D to look for a short opportunity. Also remember, to have better point of entry we have to look in lower time frames.
Short
by Wiiso
EUR/JPY Short Trade UpdateHey Guys! As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114. 40 . On the last 4h move up I didn't get the pullback to my entry level at 131.67 by roughly 8 pips!(Wha-----t?) So I've been watching the lower time frames for signs of short term long strength to see if I can get that pullback. In this video, I show how I was able to tell that we will be getting a move down for the last week or two. Just a short explanation of reading strength of the longs or shorts through price action. So I'll keep you guys updated with this set up! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
Confirming Trends with the Lower Time Frames EUR/JPY ExampleHey Guys! As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114.40. Like always, I'm watching the lower time frames to confirm whether or not I will get this pullback to 131.67. During the initial move long there were several confirmations of short term long strength on the 1M-15M charts through Trendline break outs then immediate breaks back into the trendline. ( Immediate break back in means: the break out candle's close and the break back in candle's open is at the same price level) Thus was expecting short term long strength. However, 8 pips from my short entry level, there was a legitimate 15M Head and Shoulders that went it's target height level before reaching the right shoulder's stop loss level. Signaling waning short term long strength. ( If long strength was present, price should ignore the H&S and not reach it's target height price level and stop traders out at the right shoulder's stop loss level. )( I can't explain the details here.) So price did not reach my short entry level at 131.67 by a whopping 8 pips! (Yikes!!!!) Soon after, there was a 4h trendline break out with no immediate break back in further signaling 4h waning long strength.(Ti----mberrrrr!) Currently, there was a downward 1h trendline that was broken out to the long side, with no immediate break back in signaling "slight" waning short term short strength. ( I say slight due to the 1h Trendline not being as prominent as I would like to signal waning short strength.) In this way, I measure whether or not I will get a pullback for higher time frame entries (Weekly trade in this case) using the lower time frames to confirm short term long/short strength. However, I also use this method to confirm higher time frame trends. Or as I like to call it, higher time frame "biases". I'll keep you guys updated with this short set up! Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Education
by TradingForexPriceAction
💡Don't miss the great sell opportunity in EURJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (129.59). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . EURJPY is in a downtrend, and the continuation of the downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 35. Take Profits: TP1= @ 128.52 TP2= @ 128. 01 TP3= @ 127.51 TP4= @ 127.18 TP5= @ 126.44 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 / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
15
💡Don't miss the great sell opportunity in EURJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (129.59). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . EURJPY is in a downtrend, and the continuation of the downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 35. Take Profits: TP1= @ 128.52 TP2= @ 128.01 TP3= @ 127.51 TP4= @ 127.18 TP5= @ 126.44 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 / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
4
EURJPY Short Bias .Waiting for Pullback for Short Entry.Hey Guys! The Weekly(longterm) bias is short. Or in other words, price is likely to reach 114.40 before reaching 133.68. So I'm waiting for a pullback to at least 131.67 or ideally to 132.68 for a short entry with a stop loss at 133.68 and its main target at 114.40. Keep in mind, this is assuming the lower time frame confirmation retains its integrity of short strength confirmation. I'll keep you guys updated! Have a great day! Ken
Short
by TradingForexPriceAction
4