Usually, this is a setup I won't be interested, but this round, I had even placed a pending order for this trade. So let's start with why not.
1) Point C touches A, not a good sign and very much look like a retest of support and it does have repetition.
2) It is a counter-trend setup based on this timeframe.
3) Do not provide a healthy reward:risk base on this timeframe
Now, the reasons for me to engage this trade and the trade, and already placed my pending order.
1) EURJPY daily chart is on a bearish trend and it's merely a retest or the high, target1 has not officially reached yet.[Check the link at the bottom]
2) There is an obvious break and close below the support based on the daily chart, after the Point D completion.
3) Is trend trading based on the daily timeframe
4) Trade based on special strategy, it provides a fantastic Reward:Risk.
For more information, check the link on my signature at point (3)
1) Point C touches A, not a good sign and very much look like a retest of support and it does have repetition.
2) It is a counter-trend setup based on this timeframe.
3) Do not provide a healthy reward:risk base on this timeframe
Now, the reasons for me to engage this trade and the trade, and already placed my pending order.
1) EURJPY daily chart is on a bearish trend and it's merely a retest or the high, target1 has not officially reached yet.[Check the link at the bottom]
2) There is an obvious break and close below the support based on the daily chart, after the Point D completion.
3) Is trend trading based on the daily timeframe
4) Trade based on special strategy, it provides a fantastic Reward:Risk.
For more information, check the link on my signature at point (3)
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🏦 Qualify Junior Analyst within 90days
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.