After being stuck at the "D" completion point of a daily Bat pattern completion we've finally seen a break to the upside on this pair. We've not run into higher time frame (HTF) structure and I wouldn't be surprised if we saw some relief in price action.
This trade setups offers something for both counter trend and trend continuation traders. For the counter trend trader, "look left structure leaves clues" We also have bearish divergence between price action and the RSI. For the trend continuation trader we currently have Fibonacci ratio confluence lining up in our potential reversal zone (or as my Live Trading Room members like to call it our "A-Kill Zone")
It's THURSDAY so that means that my WEEKLY FOREX TRADING video will be out today. If you're not a subscriber make sure you head over to my youtube channel and do so. I don't have a fancy title yet but I'll be talking about a report that was conducted a few years ago giving statistical proof on WHY TRADERS FAIL.
Good luck out there today and do me a favor. GIVE THIS POST A LIKE, It takes less than a second ;-)
Simple and great analysis here.. I have the same view.. Price broke a consolidation and it's about to retrace for a correction.. Then it's going up.. Totally agree mate..
Akil_Stokes
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Awesome!
GoodLuckbabe
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thanks mate
Don_Corleone
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Thx for sharing man!
I've been long on Eurjpy for some time now.Here is my long term view:
GL!
Akil_Stokes
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Nice, i knew I'd find somebody in that big bat!
vduquenne
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Hi there : SO HAPPY TO USE STOPLOSSES ! ALWAYS USE THEM ! THE KEEP YOU ALIVE ! DON'T TUNE THEM TOO MUCH ! FOR SURE NEVER DURING A TRADE ! HEREBY AN EMOTION PICTURE FOR THIS TRADE. FIRST FRUSTRATION BUT THE BIG RELIEF AS I TRADED THE PLAN A N D D I D N O T A L T E R I T as I did too many times before.... Yes maybe I lost a small amount but gained a huge amount of confidence. The price for that is unaffordable ;) ; ) ; ) especially one your account got broke before ;) At the end of this trade I am still alive trading and move on to the next trade ....
Akil_Stokes
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Stops are very important.
vduquenne
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like ;)
Equal
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I was also stopped after break res. And overhappy now.
PateSkpate
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I was trying to buy the last pullback but the market didn't quite pull back far enough for me!