EUR/JPY SHORT - Wedge/LH/Trend Lines/Fib/Shooting Star
Took a short on this pair due to it bouncing from a strong cross trend line, creating HH and LH in an 1HR ascending channel, and the previous 1HR peak lining up with the fib to touch the trend line again, so i placed a fib on this 1HR uptrend and the 61.8% level lined up with the trend lines exactly to TP, then it should continue upwards to a HH. Price is also in a wedge and bounced from the CTL and created a 1HR shooting star and 4HR doji.
TP @ 119.135
SL @ 119.964
R/R @ 1.8
TP @ 119.135
SL @ 119.964
R/R @ 1.8
Trade closed: stop reached
Stopped out by 0.5 pips but re-entered again on the H1 doji candle signalling indecision after an uptrend and on the touch of the trend line again. New R/R is 4.4 for the new trade with the same TP.Trade closed: stop reached
Stopped again.
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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.