EUR/JPY has been riding some corrective waves recently on its way to the outer boundaries of higher timeframe structure. I decided to take a short term buy in order to ride the shorter term move in preparation for bigger things.
Some confluence for me is as follows:
- corrective structure in the form of an ascending channel, interacting with higher timeframe structure
- the three touch method is in play here with the third touch approaching
- looking for some slow down in momentum in order to enter shorts
- larger timeframe structure suggests the market is due a move downwards before coming back up
That is my take on EUR/JPY for the coming weeks in 2020. Happy trading all!
Some confluence for me is as follows:
- corrective structure in the form of an ascending channel, interacting with higher timeframe structure
- the three touch method is in play here with the third touch approaching
- looking for some slow down in momentum in order to enter shorts
- larger timeframe structure suggests the market is due a move downwards before coming back up
That is my take on EUR/JPY for the coming weeks in 2020. Happy trading all!
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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.