EURJPY - Bullish 2618
Updated
+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish 2618 Setup on 15M here on EURJPY, and I think this is perfect counter trend trading opportunity.
You may ask why?
We don't only have a conservative entry reason in the face of this 2618 but we can stack on it.
The Double Bottom(foundation of 2618 Setup) is right at Structure Low - look left on HTF (1H).
The 0.618% is right at the V of the Double Bottom - and our kill zone start from there.
Not to mention that on left Bottom we have a RSI under 20 with a RSI DIV on 2nd Bottom.
You can enter aggressively right @ 0.618 or you can look for alternative entry reason - either way you choose you'll get more than 1:1 Risk/Reward.
No matter how perfect this setup is, stops are below this Double Bottom and 1st Target Retest of the cycle high - you can shoot 113.30 for 2nd Target.
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
Download my Free Ebook & transform your trading Today! bit.ly/2b0ky6D
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
You may ask why?
We don't only have a conservative entry reason in the face of this 2618 but we can stack on it.
The Double Bottom(foundation of 2618 Setup) is right at Structure Low - look left on HTF (1H).
The 0.618% is right at the V of the Double Bottom - and our kill zone start from there.
Not to mention that on left Bottom we have a RSI under 20 with a RSI DIV on 2nd Bottom.
You can enter aggressively right @ 0.618 or you can look for alternative entry reason - either way you choose you'll get more than 1:1 Risk/Reward.
No matter how perfect this setup is, stops are below this Double Bottom and 1st Target Retest of the cycle high - you can shoot 113.30 for 2nd Target.
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
Download my Free Ebook & transform your trading Today! bit.ly/2b0ky6D
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
Trade active
Price came right @ KillZone and reversed on a dimeTrade closed manually
2nd target filled @ 113.20Trade closed: target reached
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.