Good setup for a short on EURJPY. The former and very clear and strong support level showed no strength at that purple descending triangle. That pattern shows lower highs. Than after that drop the market made an attempt to form an inverse H&S, but pattern failed wich shows another sign of weakness. And now finally it has formed a rising wedge, which is also a sign of weakness.
This trade has allot of reliability and a good risk reward
This trade has allot of reliability and a good risk reward
Note
Note
So far so good, 250 pips :) long term i expect much more weakness (price dropping), but on the short term there could be a bounce up of course. So choose your strategy to make your decision. Never get to greedy, always good to take some profitNote
Target reached, more exiting than crypto :)
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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.