UPDATE ON EURJPY - 1H CHART
Updated
Hey Guys,
We are on the long term trade already, saved with the stoploss to brake even, so we don't worry about that one anymore, we just let it work.
Now we are finally getting a new buy setup. Trade the breakout of the flag and you can look for a nice trade to the upside. Our goals is still to break the whole structure (Green lines) and keep the trade.
There are chances of a Flat correction ABC, I drew the lines of the different moves it can do. Let's see what happens.
If market overlaps last resistance and goes out of upside trendline then the buy is invalidated.
Carlos
We are on the long term trade already, saved with the stoploss to brake even, so we don't worry about that one anymore, we just let it work.
Now we are finally getting a new buy setup. Trade the breakout of the flag and you can look for a nice trade to the upside. Our goals is still to break the whole structure (Green lines) and keep the trade.
There are chances of a Flat correction ABC, I drew the lines of the different moves it can do. Let's see what happens.
If market overlaps last resistance and goes out of upside trendline then the buy is invalidated.
Carlos
Comment
New flag to buy in 1H chart! Let it form and look to buy breakout. We are still holding the long term trade.Comment
Trendline touched and reversed fast and sharp! Watch for an uptrend breakout of the ongoing flag and you can get into a nice long position.
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