What a nice structure at 
EURJPY … Three sell-offs of almost exactly same length. As the last candle was an indecision candle, I'd suspect a great opportunity to go long. First retracement stopped at 0.5, the second was fully bought back before the sell off continued. In my opinion it's targets T1 at the 0.618 retracement of the last move (RR 1:2.3), T2 at the 0.5 (RR 1:3.3) and probably T3 at the 0.382 (RR 1:4.2) which is also last weeks S2 pivot.
Only the resistance between 0.786 and 0.618 might be a problem? What do you guys think?
EURJPY … Three sell-offs of almost exactly same length. As the last candle was an indecision candle, I'd suspect a great opportunity to go long. First retracement stopped at 0.5, the second was fully bought back before the sell off continued. In my opinion it's targets T1 at the 0.618 retracement of the last move (RR 1:2.3), T2 at the 0.5 (RR 1:3.3) and probably T3 at the 0.382 (RR 1:4.2) which is also last weeks S2 pivot.Only the resistance between 0.786 and 0.618 might be a problem? What do you guys think?
Trade closed: target reached
Awesome. It did even retrace back to 0.236 which gave a 1:5 RR trade. :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.