Currently price has entered the medium risk zone. Price has shown signs of rejections in the smaller timeframe. This should be additional confluence for me to participate in the market as there is a potential CHOCH in the smaller timeframe.
In this trade I am only participating base on market structure and fibonacci retracement
In this trade I am only participating base on market structure and fibonacci retracement
Trade closed manually
I've decided to close my trade early because there was a CHOCH that happened in the smaller timeframe. Base on the macro structure price has not formed any potential CHOCH within the structure. So I will be assuming that the price will be continuing its bullish trend to the upper side. Not to worry I am still bias on looking to short EUR/JPY but just maybe not yet. The price did not move as per how I predicted it.
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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.