We are awaiting 2 confirmations before entry on EURJPY, first confirmation will be retracement back to 117.388 our structural resistance + piv zone. The second confirmation before making the entry safely will be a close below 117.388 on our hourly chart.
Once entered we will have a two step take profit to break-even structure placed for the trade. Our take profit 1 will be positioned at 117.126 (0.21%) once hit we will have half the position closed out and remainder running with stop loss at break-even and take profit 2 at 116.895. Completion of full trade will net you 0.41%.
NOTE OF INVALIDATION:
Do not enter trade if you see hourly candle aggressively cross 117.388, also a close above 117.452 on the hourly will also invalidate this whole setup.
Once entered we will have a two step take profit to break-even structure placed for the trade. Our take profit 1 will be positioned at 117.126 (0.21%) once hit we will have half the position closed out and remainder running with stop loss at break-even and take profit 2 at 116.895. Completion of full trade will net you 0.41%.
NOTE OF INVALIDATION:
Do not enter trade if you see hourly candle aggressively cross 117.388, also a close above 117.452 on the hourly will also invalidate this whole setup.