Ascending patterns are usually reversal patterns. We can clearly see that on the daily timeframe, EURJPY has been within an ascending wedge and is now losing momentum. We may see one more move up before dropping. However, it can drop from here. Either way, it's okay as we're not trying to be proactive. We want the market to show it's hand and be REACTIVE. By being reactive, we give ourselves a higher chance of executing great trades with great entries.
See the diagram in the chart as to how to enter. We want the ascending wedge to break and retest the daily level before dropping. We can have a really tight entry above the correction and ride this trade down atleast 500pips!
See links below for more information and smaller timeframe analysis.
Goodluck and trade safe!
See the diagram in the chart as to how to enter. We want the ascending wedge to break and retest the daily level before dropping. We can have a really tight entry above the correction and ride this trade down atleast 500pips!
See links below for more information and smaller timeframe analysis.
Goodluck and trade safe!
Note
Update 
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Disclaimer
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Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
Disclaimer
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.