When the 1st SBR tested, it shows strong rejection (bullish pinbar). Currently price are going below the Support level in W1 chart. Because of the buyer interest, also potential of fakeout related to pinbar, here is my idea to trade for current situation. I am not expecting to exit on HH, rather than from Low to High only. Still good RR.
Note
Stoploss are lower than Low price because pinbar has higher possibility for fakeout at High / Low price.Note
I also use EURJPY to look for negative correlation with XAUUSD (Gold) pair. On my monitoring in M15, EURJPY can have strong negative correlation with Gold; if EURJPY Buy, then XAUUSD Sell.Note
Now seems like there is upward movement. So I think its time to buy EURJPY and sell Gold.
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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.