EURJPY be patient and wait for larger correction to sell
Updated
Hi traders:
MY last forecast on EURJPY worked out perfectly. Price dropped down from the top of the structure, and broke out with strong bearish momentum.
The move had already happened, so naturally I would expect the price to form a deeper correction before the next sell move.
I would like to see price move up to the top of its current structure correctively, and I can scale into more sell entries.
What is also possible is price can simply drop from this point onward, and just form smaller correction down. In this case I wont look for additional entries, but keep my original position.
To me its always about risk management, entries and exit in my trading plan. I want to enter at the best potential opportunities and have lots of room for my risk:reward.
Thank you
MY last forecast on EURJPY worked out perfectly. Price dropped down from the top of the structure, and broke out with strong bearish momentum.
The move had already happened, so naturally I would expect the price to form a deeper correction before the next sell move.
I would like to see price move up to the top of its current structure correctively, and I can scale into more sell entries.
What is also possible is price can simply drop from this point onward, and just form smaller correction down. In this case I wont look for additional entries, but keep my original position.
To me its always about risk management, entries and exit in my trading plan. I want to enter at the best potential opportunities and have lots of room for my risk:reward.
Thank you
Note
Note
Price formed a channel correctively going up, and can wait for more confirmation within this structure. Price can either form a mini correction and drop, or go down correctively, and go up once more before the drop to complete the structure.
Note
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