EURJPY potential bull trap over 2 weeks high
Spotted a h1 hns chart pattern and with macd divergence. I am interested to see if the pattern will be completed or not , if neckline closes or not. If ti closes , then a flush of 2 weeks high will be done.
What may be against this trade will be the 2 hammers on w1 , but should price do a strong bearish close, It will herald a new wave of bearish move upon smashing the weekly descending triangle neckline.
my TPs as shown, the levels on d1 line chart pivot.
For a better ( but riskier) entry , I may choose to see a test on h1 near the suspected right shoulder and get and entry there, SL for about 40 pips for 120 pips.
If not, then closure below neckline for more confirmation.
I will relate this trade setup with my bearish bias on Nikkei
What may be against this trade will be the 2 hammers on w1 , but should price do a strong bearish close, It will herald a new wave of bearish move upon smashing the weekly descending triangle neckline.
my TPs as shown, the levels on d1 line chart pivot.
For a better ( but riskier) entry , I may choose to see a test on h1 near the suspected right shoulder and get and entry there, SL for about 40 pips for 120 pips.
If not, then closure below neckline for more confirmation.
I will relate this trade setup with my bearish bias on Nikkei
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