Hey traders,
after waiting for a long opportunity on this pair yesterday we've now changed our bias on EURJPY 0.13% due to price action language.
Learning how to read a price chart gives an edge on the market and allows you to be prepared to whatever markets can offer.
In this case, being the break of structure to the downside, trend is headed lower and i want to ride it as much i can.
The first reversal zone of this pair would be the former support level that now can turn into resistance.
Giving this situation on the 4hour chart, i know i will search for selling patterns through the blue box in lower timeframe such as 1hr and 15m.
On the 15m chart we can see a Gartley advanced formation unfolding.
Seems a good opportunity to go short to me.
Stops above X, target as usual, or you can shoot for extended target given the situation.
If you have any suggestions or questions, fill the comment section below.
Otherwise, see you in the next chart!
after waiting for a long opportunity on this pair yesterday we've now changed our bias on EURJPY 0.13% due to price action language.
Learning how to read a price chart gives an edge on the market and allows you to be prepared to whatever markets can offer.
In this case, being the break of structure to the downside, trend is headed lower and i want to ride it as much i can.
The first reversal zone of this pair would be the former support level that now can turn into resistance.
Giving this situation on the 4hour chart, i know i will search for selling patterns through the blue box in lower timeframe such as 1hr and 15m.
On the 15m chart we can see a Gartley advanced formation unfolding.
Seems a good opportunity to go short to me.
Stops above X, target as usual, or you can shoot for extended target given the situation.
If you have any suggestions or questions, fill the comment section below.
Otherwise, see you in the next chart!