Trading Speed Bump Ahead!!
Looking ahead, the EURJPY is poised to be the most trending pair in the coming week, with a bullish Euro and bearish Yen driving the market. This presents a great opportunity for trend traders, as the pair is expected to rise steadily.
Personally, I will be watching for a retest of 149.53 on the 1-hourly chart as an entry point for a trend-continuation trade.
However, it is important to note that a potential trading speed bump may arise on the daily chart due to the completion of a bearish AB=CD pattern at 150.76.
While this may be a cause for concern, experienced traders will set an alert at 150.76 and wait for a confirmation signal before acting on the pattern. It's important not to let "what-if" scenarios deter you from making a trade - stick to your trading rules and use them to your advantage.
Personally, I will be watching for a retest of 149.53 on the 1-hourly chart as an entry point for a trend-continuation trade.
However, it is important to note that a potential trading speed bump may arise on the daily chart due to the completion of a bearish AB=CD pattern at 150.76.
While this may be a cause for concern, experienced traders will set an alert at 150.76 and wait for a confirmation signal before acting on the pattern. It's important not to let "what-if" scenarios deter you from making a trade - stick to your trading rules and use them to your advantage.
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