EURJPY(1h) Short setup, continuing our decent.
Continuing bearish outlook as a follow up on last weeks successful entry (uk.tradingview.com/chart/EURJPY/t8XgkIJv-EURJPY-Daily-Bearish-suggestion/)
Basing this on price action struggling to close above 121.350 - 0.382 fib of X-A
IF we break out above, we will possibly find another opportunity to get short around 121.800 - 122.0 area.
Final target - 120.000
Basing this on price action struggling to close above 121.350 - 0.382 fib of X-A
IF we break out above, we will possibly find another opportunity to get short around 121.800 - 122.0 area.
Final target - 120.000
Note
First target hit - 50+ pips banked.Rolling stop loss to break even for the remaining position!
Trade closed: stop reached
Second position stopped out at break even, leaving us with the previous 50 pips in profit.Will look for another entry, possibly 121.600-700 area
Note
121.700 hit, new short opportunity -> See recently posted chart
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