Bearish conditions that occur in the Weekly and Daily provide information on EUR / JPY weakness still ongoing. Opportunities to sell take advantage of bearish conditions taken when support has broken down on H4.
In general the EUR / JPY price movement is in bearish dominance as indicated by the downtrend wave in the Weekly and Daily time frames. Opportunity to sell in the direction of the big trend. The entry position is taken when confirmation break has occurred at H4. See the explanation below for more details.
Opportunity
for Entry EUR / JPY
From the description above, it can be concluded for
the opportunity of entry with the following plan:
Buy area: 121.55 – 121.65
Sell:
if the breakdown is 121.55
Attention:
Entry
only when confirmation has occurred.
Always use good Money Management (1-2% risk per
transaction).
Close the position as soon as possible (Emergency
Exit) if the price forms a candlestick reversal (Engulfing, Piercing Line, Long Shadow) that is opposite to the direction of the position.
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