EURJPY - long
A double bottom occurred some days ago: confirmed, because it closed on daily above the horizontal line (note that it is more clear on a daily scale).
Later, however, the pair went down. Please note that this happens very often in this type of pattern and it does not mean you should become suddenly bearish. So if you did not buy when the double bottom confirmed, you have an even better oppurtunity to do it now (the price is after all much lower).
In addition, on a 1h scale we can see a breakout of a trend - bullish!
Put a stop loss a few pennies below the lowest of the bottom, and take profit at 134.20 - level. So the (potential profit)/(potential loss) ratio is very high here.
PS. Visit us at lookintotrade.com for more signals!
Later, however, the pair went down. Please note that this happens very often in this type of pattern and it does not mean you should become suddenly bearish. So if you did not buy when the double bottom confirmed, you have an even better oppurtunity to do it now (the price is after all much lower).
In addition, on a 1h scale we can see a breakout of a trend - bullish!
Put a stop loss a few pennies below the lowest of the bottom, and take profit at 134.20 - level. So the (potential profit)/(potential loss) ratio is very high here.
PS. Visit us at lookintotrade.com for more signals!
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