Hi traders. Possible bull trap forming
Updated
Hello Traders, Avramis Swing has suggested a possible Bull Trap forming on EUR/JPY H4 Chart @125.774. The Fibonacci levels outline potential targets, with an invalidation level at around 126.729. Let us know your thoughts in the comment section below. We will execute this trade once all our rules are aligned. We suggest keeping this pair on your watchlist.
Trade Details
Entry: Sell Stop @125.774
Stop: 126.729
Target 1: 125.211
Target 2: 124.256
Target 3: 122.699
Time Frame: H4
Trend: Down
Pattern: 11
Overall score: 5
We suggest closing half your position target one and moving your stop loss to the breakeven level.
Leave the remaining position for Target two.
Trade Details
Entry: Sell Stop @125.774
Stop: 126.729
Target 1: 125.211
Target 2: 124.256
Target 3: 122.699
Time Frame: H4
Trend: Down
Pattern: 11
Overall score: 5
We suggest closing half your position target one and moving your stop loss to the breakeven level.
Leave the remaining position for Target two.
Comment
Trade idea invalid. Trade never gave us a clear break of structure and lower time frames indicated a buy setupOrder cancelled
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.