EURJPY - Trade of the Week
Updated
Hey Traderz!
Today, I have found a very good setup. Now, I already have a long position - for testing purposes.
What I see is the following:
One thing though, even if I am right - before a huge movement that I expect, there will be a big retracement as well - the position that I took might be a loss, but I am planning to have it as long as possible, so what you see on the chart might not show the reality, hence I will update you all the time!
Today, I have found a very good setup. Now, I already have a long position - for testing purposes.
What I see is the following:
- On Monthly Chart there is a huge double bottom
- Both Weekly and Daily Chart provides information of going long on this pair
- We know that Euro has overachieved almost every G10 currency with an advance of 6%+ this year
- Technical patterns show Euro preparing for something big - on EURUSD as well
One thing though, even if I am right - before a huge movement that I expect, there will be a big retracement as well - the position that I took might be a loss, but I am planning to have it as long as possible, so what you see on the chart might not show the reality, hence I will update you all the time!
Trade closed: stop reached
Although, the trade is closed, I still expect it to make a huge boom, obviously, I was early, but will be back as soon as the retracement is done.
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