EURJPY Bullish Idea
Weekly Trend: Bullish
With Large Bullish Flag
Daily Trend: Bullish
Price action pushing toward upper flag
4hour Trend: Bullish (Current Chart)
Trade scenario 1: Price action has been overall bullish on EJ on the higher timeframes. We can see that on the weekly timeframe, price action has been bouncing within what looks like a very large bullish flag.
This suggests price action will continue higher on a macro level but we need to find what is more accessible to us for the week ahead.
On the 4hour we can see price action is a bit overextended and needs to form structure. Look for a structure forming higher low above 130.650 support to enter long on.
Trade scenario 2: For us to consider EJ bearish we would need to see a lower high below 130.650 support.
Weekly Trend: Bullish
With Large Bullish Flag
Daily Trend: Bullish
Price action pushing toward upper flag
4hour Trend: Bullish (Current Chart)
Trade scenario 1: Price action has been overall bullish on EJ on the higher timeframes. We can see that on the weekly timeframe, price action has been bouncing within what looks like a very large bullish flag.
This suggests price action will continue higher on a macro level but we need to find what is more accessible to us for the week ahead.
On the 4hour we can see price action is a bit overextended and needs to form structure. Look for a structure forming higher low above 130.650 support to enter long on.
Trade scenario 2: For us to consider EJ bearish we would need to see a lower high below 130.650 support.
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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.
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.