I am setting my Sell Limit at 73.000 ! Follow with your own risk !
Price is made an Double Top at the key level which is aligning with 50% Fibo retracement level and also break out of the trendline !
EurJpy Price Action is more towards the bearish side ! In addiction there is a Head and Shoulder pattern formed and the neckline is broken which shows more bearish sign !
We can see there is a double bottom formed at the bottom ! Currently price is above the first retracement level. When the price reached the 50% Fibo level which is in confluence with Daily Engulf , I will be looking for a short opportunity if there is some bearish price action structure forming at lower time frame ! Comment your thoughts !
Price rejected at daily SBR level which in confluence with Fibo first retracement level ! I am already in this trade but I am looking for a small pullback for re-entry as shown as my arrow indication ! Target until the box below . Trade with own risk !
I will be monitoring the box I marked for a potential long only if the price action indicates some bullish action !
Price made an Impulse and then start to move within the channel . There is a fake breakout happened at the place I marked . Why is it a fake breakout ? Because after made a breakout of the trendline / channel price move back inside of it ! Currently price is reaching the bottom of the channel and High Liquidity area which I will be monitoring for potential long...
I will be observing at the recent W formation for a long opportunity , This analysis will be invalid when the base that we observing for a long opportunity is broken !
After a impulse move (bullish) the price is now rejected at the previous High/Resistance with a strong downward push ! Will wait for a small retracement and then looking for a short opportunity !